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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 15 2013: In today's economy, it may appear that money can buy happiness due to the overwhelming amount of people that are struggling financially. However, if we closely examine our happiness, we'll find that material possessions bring only temporary satisfaction. When your iPad is out of sight, it is also out of mind. When your honey, daughter, or best friend is out of sight, your heart feels a yearning for that person. We're social creatures, and we rise depending on our relationships with others. I guarantee you, a person who has no material possessions but is involved in a loving relationship will value his/her life much more than a person who's only "relationship" is with his/her money. We need to be able to distinguish the difference between temporary and lifelong satisfactions. Can money enhance your soul? Not a chance.

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