The Wealth-Happiness Paradox

This chapter examines the intricate relationship between income and happiness, revealing that while higher earnings can enhance well-being for low-income individuals, the benefits diminish significantly beyond a certain income level. It discusses the emotional struggles of wealthy individuals, including guilt and isolation, highlighting how significant wealth does not guarantee long-term happiness. The chapter further explores psychological concepts such as impact bias and hedonic adaptation, illustrating the disconnect between our expectations and actual emotional experiences.