it is well established that they are correlated.
that doesnt mean that wealth is the only factor of happiness, nor is it the strongest. but it is correlated.
if you spend time traveling (I have, significant time - can't imagine a different life) you will unmistakably conclude that happiest people, by far are from the poor(est) countries. it is only "western minds" that think (this is ingrained in societies like USA) wealth and happiness are correlated.
the happiest part of my life was when I had nothing materially (but no debt, just basically at zero, making enough to live paycheck to paycheck)
I don't question that.
I wonder though if there is a sweet spot—a goldilocks degree of wealth. Too much wealth becomes a burden itself.
Is there a linear relationship between wealth and happy? Someone 10× as wealthy as another person—10× happier?
I suspect not.