Key points:
Despite a big rise in GDP per person, surveyed measures of happiness have been flat to falling in the US and Australia.
Younger people in the US, Canada, Australia and NZ are the least happy age group. This is a major change from 20 years ago and may be due to the rise of social media.
Some suggest we are on an “hedonic treadmill” and should focus on something like Gross National Happiness.
Such as approach would have major implications for investors, but it’s doubtful it would improve happiness.
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