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Wealth, Happiness

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Submitted By jimjim993
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Wealth, Happiness, and the National Economy, Is There
A Paradox?
Question
Does a healthy national economy increase the happiness of the nation’s citizens?
Background
America is still recovering from the greatest recession sense the Great Depression and many countries around the world are now struggling with bad economies, unemployment, and massive debt. But why are governments so concerned about the economy? Governments care because it is believed that a better national economy leads to a better quality of life for the nation’s citizens. So, governments spend billions of dollars as an attempt to help the nation’s economy grow, which should lead to a better life for the nation’s citizens. This seems like it has good intentions, but many governments borrow the money they use for this spending and that only creates new problems. In the United States, the total debt is greater than its total economic output, and this debt will only hinder future and long term growth.
On top of all that, the idea that a better national economy will make the citizens happier overall contradicts the idea that money doesn’t buy happiness. Does this mean that money actually does buy happiness, or does it mean that the economy doesn’t have anything to do with people’s happiness? Some regions are poorer than the United States and yet are happier, an example is Latin America. Other richer countries, like the United States, Japan, and China have had great economic growth over the past few decades, yet happiness has changed very little and in the case of China it has even declined. So does this mean that the economy doesn’t have anything to do with people’s happiness? This statement seems absurd to many people living in countries with struggling economies. If you talk to most people they will want the economy to get better. If you look at government discretionary spending

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