 The question of mistakes will be taken up in section 5.2. But the last claim—that material prosperity has relatively modest impacts on happiness—has lately become the subject of heated debate. For some time the standard view among subjective well-being researchers was that, beyond a low threshold where basic needs are met, economic gains have only a small impact on happiness levels. According to the well-known “Easterlin Paradox,” for instance, wealthier people do tend to be happier within nations, but richer nations are little happier than less prosperous counterparts, and—most strikingly—economic growth has virtually no impact (Easterlin 1974). In the U.S., for example, measured happiness has not increased significantly since at least 1947, despite massive increases in wealth and income. In short, once you’re out of poverty, absolute levels of wealth and income make little difference in how happy people are.