Capitalism = Happiness?
The situation may not be as simple as “Living Under Capitalism = Being Happier” but a new article in New Scientist called “Wealthy Nations Hold the Key to Happiness” suggests that such a conclusion is not far from the truth.
The “Map of World Happiness” below sums it up pretty well. Red indicates happiness. Yellow indicates unhappiness.
From the article:
According to the analysis, a country’s happiness is closely related to its wealth, along with the health and education levels of its people. It is no surprise that people spending heavily on healthcare, such as US citizens, rank highly, says White, as this investment increases life expectancy and general wellbeing.
“There is a belief that capitalism leads to unhappy people,” he says. “However, when people are asked if they are happy with their lives, people in countries with good healthcare, a higher [earnings] per capita, and access to education were much more likely to report being happy.”
Many thanks to friend and political-happiness scholar Will Wilkinson for calling this new article to our attention.
This certainly adds an interesting twist to the “Materialism = Unhappiness” equation that we hear advanced a lot, implicitly or otherwise, in American Buddhist and leftist circles.
Here is an interesting tidbit:
Countries that rank in the top 20 in both White’s list and the Happy Planet Index – presumably very happy places indeed – are Costa Rica, Bhutan and Antigua and Barbuda.
I wonder what these countries have going for them.
America spends a lot on health care?? Compared to what–3rd world countries?
All the studies I’ve seen on these subjects seem to always come to the same obvious conclusions: Wealth corresponds with happiness and well-being up to a point–once peoples’ basic needs are met–and after that, there is not necessarily much corellation.
I agree with you about wealth and happiness corresponding only “up to a certain point.”
You don’t think Americans spend a lot on health care? Probably more than anyone in the world?
Or are you just stumping for socialized medicine over here in the comments at Mudita Journal?
Capitalism does equal to happiness - except that happiness will be inequitaby experienced. We must also not forget that Capitalism redefines and redirects the human persona in ways that makes us the self-serving, self-absorbed and self-centred creatures that will necessarily avoid addressing or bothering with the first point.
Inquisitor, Would you say that you live in a capitalist economy? Would you say you are self-serving, self-absorbed, and self-centered?
Nick, The U.S. spends more per capita on health care by a wide margin. One reason is that we can afford to. Another reason is that most new medical technologies become available first in the U.S., when they are most expensive. A third reason is the silly way our system is structured gives consumers an incentive to opt for the most expensive procedure, whether they need it or not, since they are not exposed to the price.
Also, the benefit to happiness decreases on the margin with extra wealth, but the correlation remains positive, even at high levels. It is also important to consider that within every society, wealthier people are rather more likely to say they are happy.
I know I am a bit late to jump into this blog, but I wanted to note that it seems a bit obvious that wealthier countries are happier countries (granted, to a point). When basic, human needs are met our minds are free to explore endless possibilities; stability leads to transformation, ironically. Beyond that, we are individually responsible for our happiness, our successfullness, and our generosity. When our worries are alleviated, there is nothing that we can not try - that is indeed a luxury. What is important to remember, however, is that to whom much is given, much is expected.