Does money make people happy? Gallup's World Happiness Report confirms a correlation to some extent. On average, as per capita GDP doubles, life satisfaction increases by 0.7%. In a capitalist society, this is not too strange; the more money one has, the happier they can be.
But is that universally and absolutely true? Some people say no. According to the Easterlin Paradox by Richard Easterlin, a professor of economics at the University of Pennsylvania in 1974, as long as basic needs are met, happiness does not trend [1] upward as income continues to grow. In other words, material affluence [2] alone doesn't make people happy. "Money cannot buy happiness" is a piece of knowledge common to everyone.