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Additional Increase In Economic Wealth Does Not Make Its Citizens Any More Satisfied - IELTS Essay


Additional Increase In Economic Wealth Does Not Make Its Citizens Any More Satisfied - IELTS Essay

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Sample Essay 1

It is a common assertion that beyond a certain economic threshold, further enhancements in wealth do not significantly boost the happiness of a nation's citizens. I concur with this view, believing that once basic needs are sufficiently met, factors other than financial gains play pivotal roles in influencing individual contentment. This essay will explore the diminishing returns of wealth on happiness and the importance of non-material factors in fostering true satisfaction.


Primarily, the principle of diminishing marginal utility illustrates that as a person’s wealth increases, the additional satisfaction gained from each subsequent dollar diminishes. For instance, a wealthy individual may not experience a substantial increase in happiness from purchasing a luxurious item, as their basic needs are already met, and such acquisitions bring only fleeting joy. Research by the World Happiness Report supports this, indicating that beyond a certain income level, increases in wealth have minimal impact on life satisfaction. This is evident in countries like Japan and the United States, where despite high GDP per capita, happiness indices have plateaued or even declined over recent decades. Thus, it becomes clear that economic growth alone cannot guarantee the overall well-being of a population.


Moreover, the overemphasis on material wealth often overshadows more substantial determinants of happiness such as community, mental health, and personal fulfillment. In Scandinavian countries, for instance, despite moderate wealth levels compared to the richest nations, citizens report higher happiness scores. This is attributed to strong social support systems, generous welfare provisions, and effective work-life balance policies. These factors illustrate that happiness derives from a well-rounded life rather than mere financial prosperity. Additionally, the prioritization of leisure, family time, and social connections further underscores the limited role of wealth in achieving lasting contentment.


In conclusion, while economic stability is undeniably important, its role in enhancing happiness beyond a certain point is limited. It becomes evident that, when a country is already rich, non-financial elements such as societal bonds, mental wellbeing, and personal achievements not only ensure more sustained happiness but also foster a more resilient society.


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Sample Essay 2

Contrary to the belief that additional economic wealth does not significantly increase happiness in affluent countries, I argue that increasing wealth fundamentally enhances citizens' satisfaction by improving living standards and enabling societal progress. This essay will illustrate how increased economic resources contribute to public happiness through advancements in public services and infrastructure, and by providing greater opportunities for individual achievement.


The impact of wealth on public services is profound. More financial resources mean better healthcare, education, and social welfare systems, which directly correlate with higher life satisfaction. Wealthier nations are able to fund more comprehensive healthcare, resulting in lower mortality rates and higher life expectancy. For instance, increased investments in healthcare in countries like Germany and Canada have directly led to superior health outcomes compared to less affluent nations. Furthermore, economic wealth allows for higher educational expenditure per capita, which equips citizens with the skills needed for personal and professional success, thereby enhancing their overall life satisfaction. Enhanced educational opportunities also lead to greater innovation and a more dynamic economy, reinforcing the cycle of prosperity.


Additionally, increased wealth fosters a climate of innovation and opportunity. In economically prosperous societies, individuals have access to capital that can be invested in new businesses and technologies, fostering an environment where entrepreneurial and employment opportunities are abundant. This not only boosts individual wealth but also contributes to a sense of personal fulfillment and achievement. For example, the innovation-driven economies of Silicon Valley and Singapore showcase how wealth creation leads to vibrant ecosystems where individuals thrive through high levels of engagement and creativity. These thriving economies also attract global talents and investments, further amplifying their wealth and innovative capacities, and creating a virtuous cycle that propels the society toward higher standards of living and satisfaction.


In conclusion, the assertion that further economic growth does not increase happiness is overly simplistic. Increased wealth significantly enhances national happiness by improving public services, infrastructure, and providing greater opportunities for personal fulfillment. As such, the pursuit of economic growth remains a crucial endeavour for any nation committed to the welfare and satisfaction of its citizens.

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