An older body of literature suggests that additional riches do not make citizens in wealthy countries any happier, at least not above a certain level of wealth. The core evidence here is taken from questionnaires that ask people how happy they are. Once a country has a per capita income of somewhat above $10,000 a year or more in current U.S. dollars, the aggregate income-happiness link appears weak to many observers. Some commentators argue that the curve flattens out at about half of current American per capita income. These results cast doubt upon whether economic growth does in fact yield
...more
