Comments on: Will Raising Everyone’s Income Make Everyone Happier?

By: Zach @ Four Pillar Freedom

Zach @ Four Pillar Freedom — Mon, 10 Apr 2017 10:09:37 +0000

In reply to DivHut.

Exactly – we always need some type of baseline to compare our level of income with to see how “well off” we are. The problem is, most people still have a tendency to think that the key to more happiness is having more stuff. But obviously this isn’t the answer. If everyone receives a massive home and a new car, their standards will simply be raised and they’ll still crave more and more to be satisfied. This is why the only way to find happiness is to seek internal rewards (relationships, peace with yourself, meaningful work) as opposed to external (material goods). Thanks for the comment 🙂

By: DivHut

DivHut — Sun, 09 Apr 2017 22:53:25 +0000

There would be no increase in happiness. Just look at how happy people were in the Soviet Union. If we all got an increase in income nothing would change. There has to be inequality in the world. How can you differentiate yourself otherwise to enjoy the benefits of having an increase in income. This is communist thinking. Thanks for sharing.

By: Zach @ Four Pillar Freedom

Zach @ Four Pillar Freedom — Sun, 09 Apr 2017 11:45:40 +0000

In reply to Ms. Frugal Asian Finance. I agree, once you hit a certain level of income that meets all your needs, one of the best ways to find more happiness and joy is to give back to others. Thanks for the feedback :)

By: Ms. Frugal Asian Finance

Ms. Frugal Asian Finance — Sat, 08 Apr 2017 16:45:33 +0000

Interesting analysis. I think there’s a diminishing return to a rising income. For my husband and I, once we reach a certain level of income and saving, we will start giving some back to our extended family and communities. I think we will be happier that way.

By: Zach @ Four Pillar Freedom

Zach @ Four Pillar Freedom — Fri, 07 Apr 2017 21:29:25 +0000

In reply to Mrs. Picky Pincher. Exactly! It's so easy for us to think that the next purchase we make will be the purchase that brings us happiness, only to be disappointed when we become accustomed to that new shiny toy only weeks later.

By: Zach @ Four Pillar Freedom

Zach @ Four Pillar Freedom — Fri, 07 Apr 2017 21:27:09 +0000

In reply to Ty Roberts. I agree, gaining basic amenities would likely lead to a substantial increase in happiness. The problem arises when families making 6 figures begin to feel deprived just because they're surrounded by families who are even wealthier...

By: Mrs. Picky Pincher

Mrs. Picky Pincher — Fri, 07 Apr 2017 15:13:10 +0000

Excellent point. 🙂 Many other countries are happier than America, even though the average household income may be smaller. It comes down to an issue of societal attitudes and culture. Unfortunately we have a “me me” culture that emphasizes purchases over meaningful things like family and community. It’s weird that we haven’t learned shiny new things don’t make you happier. Hmph.

By: Ty Roberts

Ty Roberts — Fri, 07 Apr 2017 13:49:36 +0000

It seems to me that the very poor would experience the most happiness gain because, despite the old saying, money does buy happiness. Going from broke to having the means to purchase reliable transportation and housing would bring significant peace of mind, I’d imagine.

But if your basic needs are already being met then really you’re just introducing mass lifestyle inflation. I’m doing my best to break the norm and think I’d keep it up even if my income was raised