Happiness is something that we all strive for, and according to a study by Nobel Prize-winning economist Angus Deaton and psychologist Daniel Kahneman, happiness increases with income, but only up to a certain point. The study found that once an individual’s annual income reaches $70,000, additional income does not have a significant impact on their overall happiness.
However, the situation is different in Mexico, where the average annual income is around $30,000. Despite this lower income level, many Mexicans still report feeling happy and content with their lives. So, what is it about the Mexican way of life that allows them to find happiness despite earning less than the income threshold identified in the Deaton-Kahneman study?
One possible explanation is the strong sense of community and family that is deeply ingrained in Mexican culture. Mexicans place a high value on social relationships and have a strong support system provided by family and friends. This creates a sense of belonging and support that can contribute to happiness, even in the absence of financial abundance.
Another factor may be the slower pace of life in Mexico. Compared to the fast-paced, high-stress lifestyle of many developed countries, Mexico’s relaxed atmosphere and emphasis on enjoying life can be a refreshing change of pace. The warm climate, beautiful natural scenery, and delicious food also contribute to a laid-back, enjoyable lifestyle.
In addition, Mexicans are known for their strong work ethic and resourcefulness. Many people in Mexico are self-employed or run small businesses, and despite the challenges they face, they take pride in their work and find satisfaction in providing for themselves and their families.
Overall, the Mexican approach to happiness may be characterized by a focus on relationships, community, and simple pleasures. Despite earning less than the income threshold identified in the Deaton-Kahneman study, Mexicans find happiness in the things that matter most to them, such as spending time with loved ones, enjoying good food and drink, and living life at a relaxed pace.
In conclusion, while the Deaton-Kahneman study suggests that income is an important factor in overall happiness, the situation in Mexico challenges this notion. Mexicans have found a way to prioritize the things that truly matter in life and derive happiness from the relationships, community, and simple pleasures that surround them. Perhaps we can all learn something from the Mexican way of life and strive to find happiness in the things that truly matter.
Don’t miss our previous blog “The Benefits of Hiring a Private Tailor in Playa del Carmen: Crafting Your Perfect Wardrobe“.