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Relying on worldwide data from Gallup and other sources, Stevenson and Wolfers determine that the wealthier people are, the more satisfied they are with their lives, at least when you look at nationwide figures. They also find, contrary to what many economists believe, that there is not a point of wealth satiation beyond which happiness levels off.Do you feel like you know that already? Among economists, it has not been a settled point. In 1974, University of Southern California economics professor Richard Easterlin proposed a theory that came to be known as the Easterlin Paradox. He posited that within a country, be it the United States or Sri Lanka, richer people were happier than poor people.
source: http://www.forbes.com/sites/susanadams/
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