A Critique on "Maybe Money Does Buy Happiness" Introduction The essay “Maybe Money Does Buy Happiness” was written by journalist David Leonhardt. In this essay, Leonhardt discusses whether or not a larger economy increases a person’s happiness and well-being by supporting his claim with evidence Money Cannot Buy Happiness and any other good effects in life. Alternatively, money may contribute to people side effects. In other words, although money is necessary to be believed that happiness can be bought. This is because we are living in a society which is surrounded Definition Essay: The Pursuit Of Happiness. Letting money get to your head does not lead to happiness it only lets you be happy up to a point and after you reach that threshold it becomes more difficult to become happy. You can only "buy" so much happiness until you are unable to anymore
Can money buy happiness Free Essay Example
Whether or not money can buy happiness is a continued debate. Billions of people in all parts of the world sacrifice their ambitions and subconscious tensions on the altar of profitability and higher incomes. Millions of people dream to achieve the level of wellbeing, when earning money will no longer be a problem to them. Legal or illegal does not really matter, as long as these strategies lead individuals to the desired monetary outcomes.
We will write a custom Essay on Does Money Buy Happiness? Professional economists assert that more money does not buy happiness. As a result, it makes no sense for people to pursue money. Yet, the reality is quite different, as money, wealth, high incomes, and wide opportunities which they open make people extremely satisfied.
Based on the current knowledge of economics, the opportunity costs of pursuing money can be extremely high. Therefore, it is better to pursue money for a purpose rather than for its own sake. People always wanted more money. Money inspired professional economists and bank robbers. Millions of people would even try to sell their souls for a reasonable sum of money. Nevertheless, the debate on whether or not money can buy happiness continues to persist. Globalization and consumerism have turned money into the main criterion of individual and professional success: the more money you earn the better person you are.
However, professional economists suggest that money does not make people happy. The current state of research claims that, despite the rapid increase in personal incomes, the percentage of people who consider themselves happy has not changed Lee, Similar disconnects between income and happiness were found in most advanced economies, including Japan, Europe, and the United Kingdom Lee, However, does money buy happiness essay, the general inconsistency of these research results is too obvious to ignore.
First, what does it mean for people to be happy? Professional economists may have profound knowledge of economic concepts but can hardly make happiness measurable. Second, can people be happy with their incomes if they always want more?
Most probably, at any given point, individuals will feel dissatisfied with what they have and will try to obtain more. I agree that money buys happiness, but this happiness is never constant.
This idea is further supported by Leewho assumes that people will make all sorts of sacrifices to get money, but their happiness will be temporary at best. Lee relies on the two main premises. Simply stated, individuals always compare their incomes and positions to those does money buy happiness essay other individuals. They want to have more relative to what others have or can have. However, their happiness wanes as soon as others achieve a better social position, income, or level of wellbeing.
Second, the nature of sensory adaptation in humans explains why people are never happy with what they have: human receptors become irresponsive to the continuous presence of one and the same stimulus Lee, As a result, the more money individuals earn the happier they become; however, does money buy happiness essay, with time, money turns into boredom and no longer brings happiness.
Obviously, it does make sense to make money, since money is the main instrument of exchange and the source of unlimited opportunities for everyone.
Money opens the gateway to a broad range of material and nonmaterial values, including health and education. We should never belittle the significance of money merely because it brings only temporary satisfaction Lee, Yet, it is always better to pursue money for a purpose rather than for its own sake.
Money for the sake of money makes little sense. Money is not the end but only the means of achieving some goal, like purchasing a new house or curing a sick child. Moreover, a common increase in individual wealth does money buy happiness essay always a positive externality, as richer countries experience lower childbirth mortality, fewer traffic deaths, better health, and longer life expectancy Lee, We live in society and our wealth necessarily benefits others, through taxes and charity.
Therefore, it always makes sense to pursue money to improve individual and societal wellbeing. The opportunity costs of pursuing more money can be extremely high. Opportunity costs are everywhere, as every decision necessarily involves tradeoffs. Individuals sacrifice their families and personal wellbeing to become successful, rich professionals, does money buy happiness essay.
Others apply to illegal activities and decisions to earn their wealth. In my own life, my decision to become educated was associated with major opportunity costs.
First, the costs of education impose a heavy burden of financial obligations on me, does money buy happiness essay. I could use this money to meet other life goals. Second, I spend more time at work and earn more money; I lose considerable earnings each time I pursue a better grade. Third, not all courses are equally pleasant: some courses seem not to be tailored to the specific needs and demands of the student majority Frank, I could use this time to improve my knowledge of the disciplines that are important for my future career.
To a large extent, the dollar cost of education does not reflect all opportunity costs. Yet, many students forget that higher education provides a variety of benefits that helps to decrease most, if not, opportunity costs. The social value of higher education is difficult to underestimate Porter, Education enhances workplace productivity and stimulates professional growth.
Therefore, the marginal utility of a university degree increases. Almost all economists treat opportunity cost as the main economic concept Frank, does money buy happiness essay, Every single decision is inevitably associated with one or more opportunity costs.
Opportunity costs reflect the significance of the cost-benefit principle that does money buy happiness essay most individual decisions Frank, Introductory economics courses must place particular emphasis on teaching students how to weigh benefits and costs of various decisions Frank, This knowledge of economics and economic principles will subsequently reduce the opportunity costs of education.
The current state of research claims that, despite the rapid increase in personal incomes, the percentage of people who consider themselves happy has not changed.
However, these results do not reflect the real order does money buy happiness essay things in the world. Money buys happiness, but this happiness is never constant. The more money individuals earn the happier they become; however, with time, money turns into boredom and no longer brings happiness.
Moreover, a common increase in individual wealth is always a positive externality, as richer countries experience lower childbirth mortality, fewer traffic deaths, better health, and longer life does money buy happiness essay. Yet, the opportunity costs of pursuing more money can be extremely high.
Knowledge of economics and economic principles will subsequently reduce the opportunity costs of education. Report puts dollar value on education.
Baumol, W. Microeconomics: Principles and policy. Boston: Cengage Learning. Frank, Does money buy happiness essay. The opportunity cost of economics education. The New York Times. Lee, D. Who says money cannot buy happiness? The Independent Review, X 3 Porter, K. The value of a college degree.
ERIC Digest. Need a custom Essay sample written from scratch by professional specifically for you? certified writers online. Does Money Buy Happiness? We use cookies to give you the best experience possible. If you continue, we will assume that you agree to our Cookies Policy. Learn More. specifically for you! Not sure if you can write a paper on Does Money Buy Happiness? by yourself?
This essay on Does Money Buy Happiness? was written and submitted by your fellow student. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly.
Removal Request. If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. GET WRITING HELP. Cite This paper. Select a referencing style:. Copy to Clipboard Copied! APA-6 MLA-8 Chicago N-B Chicago A-D Harvard.
Money can buy happiness: Michael Norton at TEDxCambridge 2011
, time: 12:09Money Is The Key To Happiness, Sample of Essays
· Money buys autonomy to mold one’s life in the image of one’s ideal. Money nourishes happiness by helping a person to achieve the values that happiness is made of. Like many things, money can be put to poor uses. Yet money can also be put to wonder uses, including the greatest: experiences joy in blogger.comted Reading Time: 8 mins However, I still believe that the money can buy happiness because it gives people what they want and making new relationship with other people. According to George Lorimer, (), which says “It’s good to have money and the things that money can buy, but it’s good, too, to check up once in a while and make sure that you haven’t lost the things that money can’t buy.” Money Cannot Buy Happiness and any other good effects in life. Alternatively, money may contribute to people side effects. In other words, although money is necessary to be believed that happiness can be bought. This is because we are living in a society which is surrounded
No comments:
Post a Comment