A research study by the London School of Economics studied 200,000 individuals and found that many of them are struggling with anxiety and stress. These are the main causes of human unhappiness.
According to Lord Richard Layard, who led the report, despite wages have actually doubled in the last 50 years, people are still not happy. on a scale of 1 to 10 on “how satisfied are you with your life?”, the doubling of someone’s paycheck saw their level of happiness rise by not more than 0.2.
Due to the fact that individuals are earning more nowadays, people tend to “compare their own salary to their peers”.
Having a partner, on the other hand, saw happiness rise by 0.6, while losing it saw the same effect downwards.
Stress, depression and anxiety struck individuals the hardest, with joy levels dipping by 0.7 on the scale.
The scientists analysed data from four nations, consisting of the United States and Germany.
Lord Layard, who was a former consultant to Tony Blair and Gordon Brown, argued that minimising anxiety, depression and stress would reduce anguish “by as much as if we could abolish all of poverty, unemployment and the worst physical illness.”
Treating individuals with depression, stress and anxiety disorders are substantially less expensive for the government. This is due to the fact that costs on it can be recovered through higher employment rate and increased tax receipts, the report stated.
Layard added that “tackling depression and anxiety would be four times as effective as tackling poverty. It would also pay for itself.”
Layard said the state should be focused on creating well-being instead of wealth development.
“In the past, the state has successively taken on poverty, unemployment, education and physical health. But equally important now are domestic violence, alcoholism, depression and anxiety conditions, alienated youth, exam mania and much else. These should become centre stage,” he said.