• Does greater wealth lead to increased happiness?

  • Feb 19 2025
  • Length: 47 mins
  • Podcast

Does greater wealth lead to increased happiness?

  • Summary

  • Episode 182: The conversation between hosts Richard Kyte and Scott Rada begins by examining a recent New York Times article that explored dozens of metrics that were used to measure societal well-being in the United States.

    The study found that while the United States has experienced remarkable economic growth and prosperity since the 1990s, measures of happiness and overall well-being have not kept pace.

    "There was little disagreement about that," Rada said. "At the same time, they looked at things like trying to measure people's happiness and things like addiction and things like long longevity, and all of these things were either not growing at the same rate as they were in the other wealthy countries in the world or were getting worse."

    Kyte attributed this disconnect to the United States' highly materialistic culture, noting that countries such as Japan experienced similar declines in well-being as they became more prosperous and focused on material goods. In contrast, the island of Okinawa, which maintained a focus on tradition, community and relationships, saw much higher levels of happiness.

    The discussion also explored the role of income inequality, with the U.S. ranking among the highest in the world for income disparity. Kyte explained that this can create stress and a sense of unfairness, even among those who are relatively well-off.

    The conversation delved into the limits of how much money can truly contribute to happiness, with Kyte explaining that once basic needs are met, additional wealth does not necessarily lead to greater fulfillment. Instead, he emphasized the importance of cultivating meaningful relationships and intrinsic sources of joy.

    Links to stories discussed during the podcast

    Why Americans older than 60 are so happy, by Emily Peck, Axios

    Ted Talk: Why monkeys (and humans) are wired for fairness, by Sarah Brosnan

    About the hosts

    Scott Rada is a digital strategist with Lee Enterprises, and Richard Kyte is the director of the D.B. Reinhart Institute for Ethics in Leadership at Viterbo University in La Crosse, Wisconsin. He is also the author of "Finding Your Third Place: Building Happier Communities (and Making Great Friends Along the Way)."

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