The Human Development Index approaches to understanding human well-being

and emphasizes the importance of things like the standard of living over means
like income per capita. HDI has key capabilities and components that it follows.
The first one is health, which determines a long and healthy life for individuals,
and life expectancy is the most important parameter. Education is the second
one, education is measured in 2 stages which are the expected years of
schooling that are based on entry-level schooling age and the total schooling age
for the adult population. Income is another component, and it is used to
determine a good standard of living which is determined by the gross national
income per capita. All mostly require money, you need money for health,
money is required for getting good health services, money is needed for good
quality education but most importantly you need money to be happy. A good
healthy life will lead to happiness.
According to research conducted by Dan Buettner, Toben Nelson, and Ruut
Veenhove in 2020 titled the Journal of happiness, they state that all humans
want is a satisfying life for themselves and their children and this is seen in high
rankings of things leading to happiness. This means people seek ways to
achieve a more satisfying life. In this research, a panel of experts was invited to
participate in a survey. These experts have a strong record in empirical research
about happiness and defining the sense of satisfaction with one’s life. Several
experts mentioned that minimum income security is required to be happy, they
also mentioned that employment plays a huge role in people’s happiness
because of the need for income. The experts touched on the components of the
Human Development Index, Health care and education. They say that investing
in health care eases one’s well-being and encourages healthy living which leads
to great happiness. They also say investigating in education is an effective and
feasible way to greater happiness. We say that money and HDI is more
important than happiness. Psychologists Ed Diener and Robert Biswas-Diener
wrote that “Rich people and nations are happier than their poor counterparts;
don’t let anyone tell you differently” they wrote this in their book
about Happiness in 2008. The authors say, if you have clothes to wear, food to
eat, and a roof over your head, increased disposable income has just an impact
on your wellbeing. Money is more important because people are much happier
when their basic needs like food, shelter, and clothing are provided than when
they are not. After your basic needs have been met you need comfort and in
order to that, money is
needed.