Link Between Happiness Index and Gdp Per Capita
After the industrial revolution spread to other parts of the world from Europe, the global economy has grown. The happiness rating has also increased when compared to the past. However, there is still a prevalent debate among economists and social scientists about whether per capita GDP has a correlating relationship with happiness. In my opinion, there is no relationship the two variables based on the data I have acquired. Nations with low GDP have relatively high happiness index, GDP itself does not include other important factors that determine happiness and only shows one side of the economic situation of a country.
To begin, with, countries with low GDP per capita has higher happiness index than nations with higher GDP. This shatters the opposition argument that is based on the hypothesis higher GDP means more happiness. To demonstrate, Vietnam only has $3300 but has an outstanding happiness rating of 60.4. France and the United Kingdom, that possesses over 10 times the GDP of Vietnam has an index rating that does not even pass 50. If this is not enough, the correlation co-efficient is 0.16 rounded down. Although it is somewhat a positive correlation it is negligible and cannot be used to support the theory of GDP per capita and happiness correlation. It is too small a number.
Moreover, GDP per capita cannot represent the level of happiness. It only accounts for the economic factor even which is done poorly. It does not account for public education, liberty, security, health and war. These are the most important factors that constitute a country’s happiness index rating. Unfortunately, GDP per capita only measures the economic facet. For example, Russia, Egypt, Congo and Sudan all have low public welfare, security and freedom. Those factors may be the reason why the aforementioned countries have happiness ratings in the 30’s range. As Robert Kennedy once said, “GDP measures everything except that which makes life worthwhile.
Finally, even if there was a
To begin, with, countries with low GDP per capita has higher happiness index than nations with higher GDP. This shatters the opposition argument that is based on the hypothesis higher GDP means more happiness. To demonstrate, Vietnam only has $3300 but has an outstanding happiness rating of 60.4. France and the United Kingdom, that possesses over 10 times the GDP of Vietnam has an index rating that does not even pass 50. If this is not enough, the correlation co-efficient is 0.16 rounded down. Although it is somewhat a positive correlation it is negligible and cannot be used to support the theory of GDP per capita and happiness correlation. It is too small a number.
Moreover, GDP per capita cannot represent the level of happiness. It only accounts for the economic factor even which is done poorly. It does not account for public education, liberty, security, health and war. These are the most important factors that constitute a country’s happiness index rating. Unfortunately, GDP per capita only measures the economic facet. For example, Russia, Egypt, Congo and Sudan all have low public welfare, security and freedom. Those factors may be the reason why the aforementioned countries have happiness ratings in the 30’s range. As Robert Kennedy once said, “GDP measures everything except that which makes life worthwhile.
Finally, even if there was a