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Mohammad Mohammadipour

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Can Money Buy Happiness?

Maybe more cash does make people happier. Especially salient are analyses done by University of Pennsylvania economists Daniel Sacks, Betsey Stevenson, and Justin Wolfers. In their updated 2010 study, “Subjective Well-Being, Income, Economic Development and Growth,” the three compare subjective well-being survey data from 140 countries with those countries' income and economic growth rates. The researchers find that within individual countries richer people are happier than poorer; people in richer countries are happier than people in poorer countries; and over time increased economic growth leads to increased happiness. “These results together suggest that measured subjective well-being grows hand in hand with material living standards,” they conclude..

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  • Feb 11 2013: I think that the way in which you use your money can make you happy. For instance, if you were living in poverty there is a great chance that you will be unhappy about certain things that some money could solve. You would want food, shelter, and clothing. Having money would solve these issues and eliminate that unhappiness. As we accumulate more and more wealth we tend to accumulate more problems. Many of us let it get to our heads and therefore we perceive more problems. Often the people around us can add to these problems to. If you accumulated a great deal of wealth and donated some of it to a family in need this would most likely make you quite happy. If you were to spend it all on drugs and then became a drug addict you may not be happy. It is all about a successful allocation network. Where you put your money to work can really influence how happy you become.

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