We have been trained at an early age that more is better, more cookies, more clothes,...

We have been trained at an early age that more is better, more cookies, more clothes, more entertainment is better than less. GDP measures the market value of all of these things and much more. However, can you think of any reasons why increases in the level of GDP might not necessarily result in a greater level of happiness?

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Expert Solution

The reasons why and increases in the level of GDP may not necessarily result in Greater level of happiness are:-

1) Unequal distribution of wealth :-

A disproportionate surge in per capita income of the people of a certain country leads to widening of the inequality where a certain section of a society benefits greater than the society as a whole . It is a scenario where the rich gets the richer and the poor gets the poorer which leads to to decrease in trust of weaker section of the society on the government due to reduce in fairness of economic opportunities for them.

2) Low education level in the society:-

Increase in in the gross domestic product of a country does not ensure equal distribution of income amongst all .The higher section of society is more privileged and the economically weaker section of society keeps struggling to earn their daily wage which often leads to poor education levels as the children are forced to work to earn living for the household from a very young age.

3) High crime rates in the society:-

As higher GDP does not ensure equal distribution of wealth and and employment opportunities for all .Thus people who are unemployed due to poor education levels become criminals in order to earn their daily living . This not only affects the living condition of the people surrounding the criminals ,increased crime in the society also detoriates mental happenines for the society as a whole.

4) Poor health conditions in the society:-

Unequal distribution of wealth even in case of high GDP leads to poor sanitation and living conditions for a large section of a society . A big proportion of people live in slum areas with Poor health conditions which not only affects the area with high density of population but also create great burden on government for providing subsidize Medicare services to them.

5) Environmental degradation of the society:-

Increase in GDP of a country is supported by factors like setting up of industries ,more demand of raw materials and high density of population around industrial areas which deteriorates the environment surrounding these areas. Even when the country is growing at a very fast pace ,still loss of forest cover area, pollution in the water bodies, air pollution etc all combine to create health issues and illness for the people of the society, thereby reducing their happiness levels.

Rahul Sunny answered 6 months ago

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