Some professionals hold that citizens living country that is already economically abundant gain no more happiness from additional income increase. I partially agree with this notion in that people’s well-being is not solely determined by their financial statuses, yet disagreeing with the idea due to its overgeneralization.
Firstly, I acknowledge that monetary wealth should not be the sole gauge of a sense of degree of well-being. Bill Gates’ foundation enables numerous children to go to school; Tim Cook makes a strong voice for LGBTQ communities; Donald Trump, being super-rich, made his effort to climb to the political peak. These examples living in the world’s richest country are not satisfied by financial reassurance but instead embarked on a great cause. For them, happiness comes from making contributions, not money.
However, if we shift our focus to the living standards of each individual, the contention that economic wealth has no implication to happiness falls short. Any country on the planet, affluent might it be, has the problem of inequality, as seen in the prominent examples of the U.S and China, where the top 5% of elites hold 95% of the nation’s wealth. The two wealthiest countries in terms of GDP still reside citizens whose basic needs are not met. Any additional increase in their income would enable them to access nutritious food, warm clothing, fair education, ultimately adding to their sense of well-being. It is hypocritical to encourage metaphysical pursuits of them in the absence of physical foundations.
Moreover, both being ‘rich’ and being ‘happy’ are subjective and lack a standardized quantification. Citizens’ perceptions of the world are shaped by their unique education and life experience and can thus differ much from each other’s. Some people are so poor that happiness becomes their sole wealth.
In conclusion, in a statics sense, people from developed countries are more inclined to be inspired by spiritual achievements than amassing wealth. Nevertheless, a nation’s overall wealth cannot diminish individuals’ sufferings, and individual’s subjective feeling on happiness varies. Therefore, additional wealth does play a pivotal role in lifting people up.