RESEARCH_FILE
Richard A. Easterlin
University of Southern California
Known for:The Easterlin paradox — the finding that rising national income does not raise average happiness over time, explained by relative comparison and hedonic adaptation
SEE THE PRACTICE
Turn a thought this research explains into one clear move.
THE THOUGHT
“Everyone my age owns a home already”
YOUR RECORDED RESPONSE
“'Everyone my age' is a highlight reel of maybe six people. I don't set my life by six people.”
ONE PRIVATE MOVE
List the actual names of people your age you know for certain own homes. Stop at the real count, don't estimate. Write one financial metric of yours that improved in the last 36 months.
Key findings
- 1974
Easterlin showed that within countries at a given time, higher income correlates with higher reported happiness, but across countries and over time the correlation breaks down — countries do not get happier as they get richer. He proposed that subjective wellbeing tracks relative income rather than absolute income, and that people adapt their happiness aspirations upward as incomes rise. Does Economic Growth Improve the Human Lot? Some Empirical Evidence ↗