In recent times economic growth has made some people richer in both developed and developing countries. While studies show that people in developing countries are happier now than before, people in developed countries are no happier than they were before.

It

could be

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is

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undeniable that modern economic progress plays a crucial role in promoting the prosperity of residents in both developed and developing nations.

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, a recent study has indicated that higher levels of happiness could be observed in the emergent

countries

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’ inhabitants to themselves in the past,

while

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that of

the

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apply

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others has insignificantly changed. From my point of view, the phenomenon has been caused by the following reasons and a lesson involving contentment could be learned from it, which will be presented in

this

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essay. The first reason psychologically relates to the experience of life standard improvement. In rich

countries

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, people could have been used to enjoying convenient living conditions with high-quality education and healthcare for a long-term period.

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, they could simply afford advanced vehicles,

such

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as cars, which were extravagant products for their counterparts in poor nations in the past. The affluent lifestyle has been likely to become ordinary so that, in spite of being wealthier after economic growth, the shift brings a trivial influence on their lifestyle.

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trend,

however

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, is an essential enhancement for the citizens in developing

countries

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who

struggled

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struggle

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with paying for basic survival needs. They could be exposed to varied careers, which provide more opportunities and obviously recognise the improvement of their life.

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, they are likely happier than those in the First World. Apart from that, competition is the second cause of unhappiness in developed

countries

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. Fundamentally, the exhaustion of innovative business ideas had been witnessed in the rich

countries

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prior to the development, so the national trade of a particular industry was distributed to a multitude of corporations.

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, when globalization has increased since the gain, commodities of the Third World, especially

agriculture

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agricultural

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products, have been exported to industrialized nations.

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, the companies put themself in stiff competition. It means that the employees are forced to work harder than before in order not to be beaten by the others and achieve the most massive market share. People in low-income

countries

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,

in contrast

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, tend to concentrate on growing their businesses

instead

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of competing with each other because almost all companies are categorised as small to medium organisations. In conclusion, it is realised that economic growth permits residents of a particular nation to become wealthier, but does not accompany contentment. There is no doubt that money is necessary for happiness, yet the richer is not the happier.