A Detailed Analysis: Can Money Truly Buy Happiness? Economics Project

This group project delves into the multifaceted relationship between money and happiness. The introduction establishes money as a medium of exchange and its role in daily life, framing the central question: Can money buy happiness? The project presents a debate among four individuals, two arguing that money can buy happiness by providing access to material comforts, security, and social status, while the other two counter that money can only purchase things that provide temporary happiness, not happiness itself, and that true happiness encompasses elements like health and relationships that money cannot buy. The project includes a comparison of these differing viewpoints, a group conclusion summarizing the debate's key arguments, and a group reflection on the overall analysis. The report also references books and journals to support its arguments.

GROUP
PROJECT

Topic: Can money buy you happiness?
INTRODUCTION
Money is economic unit which function as an economic unit and also recognised as medium
of exchange for transactional purpose in an economy. In addition to this, it offer services related
to reduction of transaction cost as well as double coincidence of wants. Moreover, money play
important role in conducting daily basis activities as well as also in purchasing anything. Along
with this, it can be said that money is important commodity which provide assistance in running
individual life. According to philosophy money cannot purchase everything but in practical
terms which utilise for calculating status of any particular human being.
This report is based on topic i.e., “can money buy you happiness.” Perception of people
related to respective topic get change on basis of their age. Because at young age people run to
earn money as they thing money can buy everything for them even happiness. Where on the
other hand, in old age people need love, care and many more which they cannot get from money.
Thus, in simple term it can be said that people of people in relation of money get change as time
passes on. As on this debate will going to conduct which help in analysing both aspects of this
topic positive as well as negative. Because without knowing both aspects it will become difficult
to identify that money can happiness or not. First part of this report will going to compare views
of different people on respective topic. After that in next part group conclusion on the basis of
above discussion will concluded. Then, in the end group reflection will be done on the basis of
entire report.
COMPARISON OF DIFFERENT VIEWS ON THE ISSUE
This debate will be going to conduct between four people on the topic “Can money buy you
happiness?” so in this 2 are people are in the favour of topic whereas remaining 2 are not in
favour. Thus, discussion are as follows :-
Yes, money can buy happiness for individual because person who can purchase 12 acre
villa, luxury cars, bank account fully loaded with money and many more can easily purchase
happiness. Because beside this further nothing is required or if required then it can purchase by
money as it is medium of exchange which has been already discussed in introduction part. Thus,
why an individual can’t get happy if he/she have money through which they can purchase
anything. So it simple term it can be said that through money happiness can also purchase by
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anyone easily. In addition to this, there is nothing such which money cannot buy. Let’s take an
example, when individual have money they can take family member as well as their loved one
on vacation as well as out to eat which bring happiness for them. In simple term it can be said
that each and everything cost in money and individual have to pay while lying in bed and
watching TV. Because without recharge it is not possible to watch TV as nothing is free if
individual have more money they become happier because it will allow them to live life in more
comfortable zone. Apart from this, at some level it can said that money cannot by happiness but
help in purchasing all those things which make individual comfortable as well as also help in
living better life. Through money several things can purchase such as security, education,
housing, therapy, opportunities, heathy care and many more for individual as well as their family
members.
This is the main reason why people are running for purchasing money as they can buy
everything through money which make happy. Apart from this, not only happiness money also
helps in gaining respect within society. Because people who don’t have money often get
disrespect within society, as they need to ask for money to other people which not make them
happy. When we have money then there will be no need to go for money to others as well as
individual can live with respect within society. Thus, it has been realised by me that money
brings lots of change in life individual along with happiness as well as comfortability. Because
there is no need to depend on other if we have money and we can live very comfortable life
which will be full of happiness. This is view of 2 persons who are in favour of this that money
can buy happiness and they give several valid reason in relation of topic. It helps them in proving
that money can buy happiness for you along with luxury, respect, comfortability and many more.
Apart from this favourable argument, 2 persons are not in favour of this argument. As
they are saying no money cannot buy happiness for you because it buy things only which make
us happy not directly happiness as per the words of above. Because through money several
things individual can purchase but from all that thing happiness is limited as it is not sure that it
will give happiness. For instance, by money several things can purchase such as clock, book,
medicines, bed, blood and several more. But money won’t buy respect, health, life, time,
knowledge, sleep and all these things are that which individual need in life for becoming happy.
Furthermore, everything have its down side as there is no such thing which remain happily ever
because it is life as things may sometime get good or sometimes not. In simple term, it can be
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said that money is basic need in life which help in purchasing daily necessities things as well as
something more than that. Buying things serve short term happiness not for whole life which
simply means that money cannot buy happiness for you. In addition to this, happiness has no
price tag sometimes it has been seems that the person who have more money the more they are
unhappy. For understanding this let’s take example of celebrities as they have everything what
they want as well as for what their heart wish. But many celebrities have torn-families,
scandalous lifestyle as well as blatantly unhappy so if money can purchase happiness then no one
exists within celebrities.
GROUP CONCLUSION
GROUP REFLECTION
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REFERENCES
Books and Journals
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