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In Recent Times Economic Growth Has Helped Many Become Richer

In recent times, economic growth has helped many become richer, both in developed and developing countries. However, those in developed countries are not as happy as they were in the past. Why is this? What can be learned from this?


Nowadays, there is an increased number of people who have made richer due to the boom in economy, for both developing and the first world countries, there is nevertheless a downward trend in the rate of happiness in the developed countries. Lost in the value of what really brings happiness which is the family and dependency on social trends and evolving technologies are two main reasons I may think this to be so.

In recent times, there is almost a total loss in the things which really brings happiness, for example, the family. In the past, the family has seen as a close tight niche where one find comfort and peace after the day’s hassle. Recently, the family is giving little or no attention in the first world countries and people spend more and more time outside the home, working and acquiring more wealth. The economic boom makes it easier with the advent of many channels of wealth acquiring, using all channels available to them to chase after wealth and so neglecting the family which seems to be a place of succour. These days, people lack the social bond that exist within the family and this give rise to a feeling of unfulfillment even with all the acquired wealth and thus leading to unhappiness.

Furthermore, there is also dependency on social media and technologies, a study has shown that social media and high dependency on technologies leads to almost 56% of depression, culminating in suicide yearly. The feeling of unhappiness that comes from, the pressure of social media to acquire more wealth in the fast-booming economy most often leads to depression and sadness which comes from a thought that judges the output on social media, that one is not doing enough.

I will conclude with what can be learned from the above trend of people in countries of economic boom becoming less happy even with the vast of wealth available to them. Money or wealth is not really a test of true happiness, people could be exposed to the best economy and still not have happiness. It is good to search for happiness in things that matter, which are usually intrinsic and not external. Happiness is a feeling and does not come from the boom of economy.

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