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Can Money Buy Happiness
Transcript of Can Money Buy Happiness
Does a country having a better economy (or gross domestic product) contribute to a higher happy planet index?
There has been a ton of previous research on just the HPI (Happy Planet Index) and the GDP (Gross Domestic Product) but, just as two separate topics only.
~there is not a huge correlation between the Gross Domestic Product and the Happy Planet Index
Gross Domestic Product (GDP):
the total value of goods and services produced by the people of a country during a year (this does not include the value of income earned in foreign countries)
Happy Planet Index (HPI):
a global measure of sustainable well-being, which utilities global data on experienced well-being, life expectancy and the ecological footprint.
By : Breea Rehman
Most of the Research is Done by the Following Institutions:
~World Bank does the research on mainly the GDP
~New Economic Foundation researches on mainly the HPI
~there has also been some research done by the United Nations regarding the correlation between the GDP, Social Support, Generosity etc.
The past research is highly significant, because from this; mainly most recent amounts the Gross Domestic Project and the Happy Planet Index were used in this assignment to create the correlation between the two measures.
Research and Results
~used a systematic sampling technique
~selected every third country out of 151 countries , but 30 out of the 151 countries were actually chosen
Mathematically speaking, there was not a
whole lot of correlation between the Gross
Domestic Product and the Happy Planet
Index according to the chosen data
~another possible error is that there isn't an even amount of "rich" and "poor" countries
~so in short, according to the graph on the
previous slide, money can't necessarily buy happiness
(Data Management Performance Task)
How many of you have heard the phrase money can't buy happiness?
*SD (Standard Deviation)
How is this Data Useful?
-This data is useful because organizations like the United Nations to help countries improve their HPI if it is low or their GDP and vise versa.
-NGO's can also use this information to determine how much aid an impoverished country would need
-World Leaders can also use this information to improve their country's economy and happiness levels