Economic growth is often prescribed as a sure way of increasing the well-being of people in low-income countries, but a study led by McGill and the Institute of Environmental Sciences and Technologies at the Universitat Autònoma de Barcelona (ICTA-UAB) suggests that there may be good reason to question this assumption. The researchers set out to find out how people rate their subjective well-being in societies where money plays a minimal role, and which are not usually included in global happiness surveys. They found that the majority of people reported remarkably high levels of happiness. This was especially true in the communities with the lowest levels of monetization, where citizens reported a degree of happiness comparable to that found in Scandinavian countries which typically rate highest in the world. The results suggest that high levels of subjective well-being can be achieved with minimal monetization, challenging the perception that economic growth will automatically raise life satisfaction among low-income populations.
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