Can Easterlin’s paradox be applied to the development of satisfaction with life or does the explanation lie in cultural geographical characteristics?

Abstract

This paper is focused on the development of satisfaction with life, as declared by the inha-bitants of the Czech Republic in a long-term (2003 – 2015) and continuous questionnaire survey. In order to explain this development, we made correlations between the development satisfaction with life with the development of relevant economic variables such as wages and gross domestic product. Our objective is to refute or confirm Easterlin’s paradox through correlations with wages and GDP development. The analysis of the development of satisfaction with life has revealed surprising findings; their possible explanation lies in Easterlin’s paradox and geographical differentiations of cultural characteristics.