There was a study several years ago where they ultimate conclusion was, more money equals more happiness up to where all your needs are met, like home, food, clothes, school fees, healthcare, etc. Then after that there is diminishing returns (so, any money past that point gives you less happiness the richer you get).
That sounds right to me, because most of us are just trying to get our needs met so we think "of course it brings happiness," and it's always rich people who have the luxury to say that they don't care about it.
!BEER
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Definitely you are right. The rich won't even bother about the diminishing returns since they are comfortable already.
Not everyone would be in that position and so, they tend to have a decrease in happiness once the money is less and could not meet their needs again.
This is why when we got those few payments during corona lockdowns, people were talking about if it would "stimulate the economy" (the same discussion is had about the idea of a Universal Basic Income). And the answer is, if you give the money to poor people it will stimulate the economy because we have needs to spend it on. We'll buy groceries or clothes or pay our bills or whatever that we need, so the money will circulate. But if you give it to people who already have what they need, they'll stuff it in a savings account or something and the money won't circulate.
So all the people who are worried about "the economy" should also be on the side of lifting up poor people to get their needs met!
This is definitely true. The poor ones should be cared for more than those who already had because they will make it lie in their savings when there are people that need it to settle bills and help live a satisfying life for a while. Thank you ma for your contribution.
Exactly. Because they already have money and all they could buy with money is with them so they don't understand what it means to live without meeting those needs. People who do not have money understand well the hurdles that are caused by the lack of money
Exactly. They ain't bothered anymore, I mean the rich people since they have everything with them but the low or average people will not keep getting happy because they don't have much to meet their needs.