Final answer:
Increased affluence does not necessarily significantly affect happiness. Research has shown that while an increase in income or wealth may initially lead to a rise in life satisfaction or positive feelings, the effect tends to diminish over time.
Step-by-step explanation:
Increased affluence does not necessarily significantly affect happiness. Research has shown that while an increase in income or wealth may initially lead to a rise in life satisfaction or positive feelings, the effect tends to diminish over time. For example, studies by Diener et al. (2010) and Quoidbach et al. (2010) have found that material prosperity predicts life evaluation, but psychosocial prosperity predicts positive feelings.
Additionally, Kahneman and Deaton (2010), in their study on emotional well-being, found that high income improves the evaluation of life but not emotional well-being. This suggests that while increased affluence may enhance overall life satisfaction, it may not have a significant impact on day-to-day happiness.
Therefore, based on the available research, it can be concluded that increased affluence does not significantly affect happiness in the long term.