The article revisits the happiness-income paradox, which suggests that while happiness varies directly with income at a given point in time, it does not increase as a country's income rises over the long term. The study expands the evidence beyond developed countries to include developing nations, Eastern European countries transitioning from socialism to capitalism, and a broader sample of developed countries. It finds that in the short term, happiness and income are positively correlated, but in the long term, the relationship is negligible. Recent critiques claiming a positive long-term relationship are attributed to statistical artifacts or confusion between short-term and long-term dynamics. The research uses life satisfaction (LS) and financial satisfaction (FS) as measures of well-being, drawing data from sources like the LatinoBarometer and World Values Survey. Results show no significant long-term correlation between economic growth and happiness in the studied countries, even with high growth rates. The paradox remains valid, indicating that economic growth alone does not lead to sustained increases in happiness. The study highlights the importance of factors like social comparison and hedonic adaptation, and suggests that policy should focus on personal well-being aspects beyond material growth.The article revisits the happiness-income paradox, which suggests that while happiness varies directly with income at a given point in time, it does not increase as a country's income rises over the long term. The study expands the evidence beyond developed countries to include developing nations, Eastern European countries transitioning from socialism to capitalism, and a broader sample of developed countries. It finds that in the short term, happiness and income are positively correlated, but in the long term, the relationship is negligible. Recent critiques claiming a positive long-term relationship are attributed to statistical artifacts or confusion between short-term and long-term dynamics. The research uses life satisfaction (LS) and financial satisfaction (FS) as measures of well-being, drawing data from sources like the LatinoBarometer and World Values Survey. Results show no significant long-term correlation between economic growth and happiness in the studied countries, even with high growth rates. The paradox remains valid, indicating that economic growth alone does not lead to sustained increases in happiness. The study highlights the importance of factors like social comparison and hedonic adaptation, and suggests that policy should focus on personal well-being aspects beyond material growth.