The British philosopher David Hume said: “The great object of all human endeavor is to achieve happiness.” Happiness is the ultimate goal of life and virtually everyone wants to be happy. Happiness is a psychological state of mind that causes feelings of pleasure. Happiness is, after all, a state of mind. Happiness can be achieved by following measures including: psychological well-being, educational system, standard of living, governance and government policy, social position, and well-being of the ecological environment (Mankiw & Taylor, 2011, p. 8). Economic wealth is the net worth of businesses, families or nations, that is, the value of all assets owned net of all liabilities owed in a period (Anderton, 2008, p. 203). It can be clearly seen that economic wealth and happiness are both important. This essay will examine whether economic wealth affects happiness. This article will conclude that increasing economic wealth is not related to happiness. Many factors influence happiness and the method to increase it. The essay will begin by discussing the relationship between economic wealth and standard of living. According to Mankiw & Taylor (2011), the quality of life in countries with high economic wealth could improve. Economic wealth can be measured by materials, goods, services, and GDP (gross domestic product), which is the market value of all final goods and services produced within a country Economist (2010). As Anderton (2008, p. 203) notes, the high rate of available money will likely lead to better health protections, advanced education systems and material necessities of life, improving living standards. A country with greater economic wealth likely has a stabilized living environment. Economic growth......middle of paper......ch, the poor and Bulgaria. [Internet]Available from:http://www.economist.com/debate/days/view/501.[Accessed 14 April 2012].Hall, D., Jones, R., Raffo, C. and Anderton, A ( 2008) Business Studies, 4th Edition Harlow, Pearson, Education.Mankiw, G., Taylor, P., M. (2011) Economics 2nd Edition, Cengage Learning, Andover.Marks, N. (2010) The Happy Planet Index. [Internet] Available at: http://www.ted.com/talks/nic_marks_the_happy_planet_index.html. [Accessed 5 April 2012].Oswald, A. (1999) A Non-Technical Introduction to the Economic of Happiness [Internet] Available at: www.warwick.ac.uk/fac/soc/ecnmics/staff/academic /oswald/ intro.pdf. [Accessed April 9, 2012].Science Daily (2010) In the long run, money doesn't buy happiness. [Internet]Available at:http://www.sciencedaily.com/releases/2010/12/101213151407.htm[Accessed April 14 2012].