The general or common view is that average annual income has a loose relationship, but a relationship to well-being of the population. The relationship is that increases in average annual income are directly translated into increases in well-being. While a wellness quotient has much subjectivity, the argument put forward is that every increase in average annual income does not necessarily mean a concomitant increase in well-being. I see this as a sliding scale. Namely, every minute increase at the low end can mean a lot to improving well being, while at the high end it means much less. Yves Smith @ Naked Capitalism presents this piece in full and observes that the wellness quotient is not necessarily a discreet measure, and measuring indiscreet entities is problematic from many different perspectives.