The Easterlin Paradox: A comparative study between Finland and The United States

Abstract

This thesis explores the relationship between wealth and life satisfaction, comparing data from Finland and the United States. By conducting a comprehensive analysis of various economic indicators and life satisfaction surveys, the paper examines how wealth influences overall life satisfaction in these two countries.

Utilizing both quantitative data from national statistics and insights from highly regarded, peer-reviewed Economic journals, the research investigates key factors such as income levels, social security, and cultural attitudes towards wealth and life satisfaction. The findings reveal significant differences in how wealth impacts life satisfaction in Finland versus the United States, highlighting the role of social welfare systems, societal values, and economic structures.

Ultimately, the study concludes that while higher wealth tends to correlate with increased life satisfaction, the effect is mediated by broader social and cultural contexts. These results underscore the importance of considering local dynamics when evaluating the wealth-happiness nexus.