Paradox of Affluence
Amy Knipe
PSY 220
June 21, 2015
Aubrey Noble

Paradox of Affluence Using the information presented in Ch. 6, explain what researchers mean by the paradox of affluence. Explain how the research on happiness and wealth relates to Maslow’s hierarchy of needs.

The term “paradox of affluence” explains the disparity that has developed over the last 40 to 50 years in America between material well-being and psychological well-being (Baumgardener & Crothers, 2009). While the American family is now making more income than ever before, the amount of happiness has not also increased. Leading to ask the question, can money buy happiness?
Research on happiness and wealth indicates money does not buy happiness (Baumgardner & Crothers, 2009). The unmet basic needs in life can easily be blamed on lack of wealth and cause depression, stress, anxiety, and unhappiness. Yet if you were to ask anyone what one thing in their lives brings them the most happiness, most would not answer it would be any kind of relation to money or wealth, rather it would be love, family, or health (Baumgardner & Crothers, 2009).
When we consider how happiness and wealth relates to Maslow’s hierarchy of needs the lack of wealth can lead to unhappiness when basic needs are not met. One could also wonder if happiness is achieved when all levels of Maslow’s hierarchy are met. One could also wonder if complete happiness can be achieved if just basic needs are met. For most people I believe happiness can be achieved when basic needs are met and they are not wealthy. These people value money for taking care of their basic needs; while they may not be wealthy, they appreciate things money cannot buy. Many people with less money are much more likely to understand the less you have the more you appreciate.

References

Baumgardner, S. Crothers, M. (2009).