Inadequacies of a happiness index

SMU Associate Professor of Psychology Christie Napa Scollon found that Singaporeans rated a person who has more material success (earning more than $10,000 a month) as having better life quality than someone who is low in material success (earning $2,100 to $3,000 a month). Her study was published in the Journal of Cross-Cultural Psychology last year. She commented that the results probably reflected the culture here of people being "chronically concerned about how others perceive them". The same study also led Associate Prof Scollon to conclude that even if Singaporeans did not personally feel that wealth was important for a good life, they were influenced by other people's beliefs and conformed. She said that large surveys such as the UN report are useful for countries to track their own progress.

Source
The Straits Times