Happiness Comes from Giving, Not Buying and Having

by Steve Taylor Ph.D.
Psychology Today

Materialism Doesn’t Lead to Well-Being, but Altruism Does

So many of us strive so hard for material success that you might think there was a clear relationship between wealth and happiness. The media and our governments encourage us to believe this, since they need us to keep earning and spending to boost economic growth. From school onwards, we’re taught that long term well-being stems from achievement and economic prosperity – from ‘getting on’ or ‘making it’, accumulating more and more wealth, achievement and success.

Consequently, it comes as a shock for many people to learn that there is no straightforward relationship between wealth and well-being. Once our basic material needs are satisfied (i.e. once we’re assured of regular food and adequate shelter and a basic degree of financial security), wealth only has a negligible effect on well-being. For example, studies have shown that, in general, lottery winners do not become significantly happier than they were before, and that even extremely rich people – such as billionaires – are not significantly happier than others. Studies have shown that American and British people are less contented now than they were 50 years ago, although their material wealth is much higher. On an international level, there does appear to some correlation between wealth and well-being, partly because there are many countries in the world where people’s basic material needs are not satisfied. But this correlation is not a straightforward one, since wealthier countries tend to be more politically stable, more peaceful and democratic, with less oppression and more freedom – all of which are themselves important factors in well-being.

So why do put so much effort into acquiring wealth and material goods? You could compare it to a man who keeps knocking at a door, even though he’s been told that the person he’s looking for isn’t at home. ‘But he must be in there!” he shouts, and barges in to explore the house. He storms out again, but returns to the house a couple of minutes later, to knock again. Seeking well-being through material success is just as irrational as this.
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