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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 20 2013: I am not sure the question makes sense. Happiness is a state of being. Money is symbolically our economic security. So the question should be,perhaps, Does being financially secure make us happy? Hmm. Its all relative. For example, financial insecurity is a distraction and undermines the capacity to be present...it is scary; it causes anxiety. It is worrisome. And this does not mean that being financially secure is the opposite... Rather, maybe financial security is a zero...we are not distracted my financial insecurity. That said, we can track all recent headlines regarding richest of families being embroiled in lawsuits, domestic abuse, addiction...and misery.

    My thinking, therefore, is that money does not do anything. But, the lack of it does alot.

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