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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 23 2013: Money is important to have access to various things considered to be basic needs. When you have theses things and they are secured, more money will not add to happiness level. On the contrary, it can deteriorate it. I think that we should consider the Aristotle's concept of the golden mean i-e the right amount of everything. That right amount of money can vary from people to people because no one is perfectly like any other. And people's need vary. Accumulating money for it's own sake will not make anyone happier but using it to satisfy one's basic and superior needs is a good path to happiness.

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