DOES INCOME BRING HAPPINESS? AN EVALUATION OF RELATIONS BETWEEN INCOME AND HAPPINESS LEVELS OF COUNTRIES
GELİR MUTLULUK GETİRİR Mİ? ÜLKELERİN GELİR VE MUTLULUK DÜZEYLERİ ARASINDAKİ İLİŞKİYE YÖNELİK BİR DEĞERLENDİRME

Author : Eylül KABAKÇI GÜNAY -- Oğuzhan ATA
Number of pages : 161-192

Abstract

One of the main reasons for the welfare difference between countries is income differences. In many studies, it is seen that as an income level of an country increases, it reaches a higher level of refinement and development. This is the reflection of the society, the individual's life satisfaction increases. However, it is not enough to increase the level of income alone so that individuals' happiness of life, and therefore happiness, can increase. In order for economic development to take place, improvements must be made in social, cultural and political spheres as well as income growth. However, in the mainstream (neoclassical) economics, the economic growth is, in summary, largely emphasized on the importance of the income increase. At this point, there is also a challenge as an approach problem where the aim is to increase happiness or increase income alone. The purpose of this study is mainly to explain the relationship between the level of income of the world countries and the happiness levels of the citizens of the country. For this purpose, the subject was covered in the Human Development Index, the World Happiness Report and the Gross National Happiness Index. It is seen in the study that countries with generally high income levels have higher welfare and happiness levels, but countries that do not follow this example also exist.

Keywords

Income, Economic Growth, Happiness, Behavioral Economics

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