Rich people are happier than poorer people on average, and richer countries are happier than poorer countries. And yet growing national wealth is not always accompanied by growing national happiness. This is the famous Easterlin Paradox, named after economist Richard Easterlin, who first observed a puzzling phenomenon. Between 1946 and 1970, the U.S. witnessed remarkable economic expansion. And yet surveys failed to show any upsurge in happiness throughout this period of post-war boom.

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