Today, I stand before you to speak on a question that has intrigued philosophers, economists, and ordinary individuals alike – can money buy happiness?
It is essential to approach this topic not only from a moral or philosophical perspective but also from a psychological and sociological lens. Research suggests that money does contribute to happiness, but only up to a certain point. According to a study conducted by Nobel Laureates Daniel Kahneman and Angus Deaton, there is a threshold beyond which additional income has a diminishing effect on emotional well-being. Once basic needs such as food, shelter, healthcare, and education are met, the marginal utility of money in terms of happiness begins to decline.
India is a country of stark economic contrasts, where for many, financial security is synonymous with happiness because it brings stability, dignity, and opportunity. However, in urban societies where material abundance is more common, the pursuit of wealth often leads to stress, social comparison, and erosion of relationships – factors that are known to decrease overall life satisfaction.
Furthermore, happiness is multidimensional. It is influenced not only by economic factors but also by mental health, social connections, and a sense of purpose. Money can certainly facilitate comfort and provide opportunities, but it cannot buy love, meaningful relationships, or peace of mind. True happiness, therefore, lies in a balance – where financial stability meets emotional and social fulfilment.
To conclude, while money can indeed enhance the quality of life and bring temporary satisfaction, it cannot buy enduring happiness. It is how we use our resources, and not merely how much we have, that ultimately shapes our well-being.
Thank you.