Over time, happiness appears to be relatively unrelated to income, and Layard (2005) argues that relative income — income relative to other inhabitants of a region or community - is more important in explaining wellbeing than absolute wealth because as individuals and societies grow wealthier, they adapt to new and higher living standards and adjust expectations upward. This point was also brought forward in the AHDR (2004), although that publication did not attempt to construct an HDI for the Arctic. It is widely accepted that analyses of economic development or progress that only take income into account neglect other important determinants of well-being.