Philip Booth, editorial director at the Institute of Economic Affairs, commented on research that suggests the UK has passed the point of peak life satisfaction.
Philip said "There are well-known problems in using happiness data in studies such as these, though the most comprehensive evidence suggests wellbeing does continue to rise with income.”
"However, there are simple solutions if people feel happier on lower incomes – they can work less or they can migrate from countries such as the US to countries such as Greece or South Korea. Neither of these things seem to be happening."
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