Over the last 50 years, we in the west have enjoyed unparalleled economic growth. We have better homes, cars, holidays, jobs, education and above all health. According to standard economic theory, this should have made us happier. But surveys show otherwise.
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When most people exist near the breadline, material progress does indeed make them happier.
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But when material discomfort has been banished, extra income becomes much less important than our relationships with each other: with family, with friends and in the community. The danger is that we sacrifice relationships too much in pursuit of higher income.
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