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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 25 2013: Money is a conduit for engaging in the world. Although happiness itself cannot be purchased, being able to fully engage in the experiences that make us happy will inevitably require money, whether it means being able to afford the time off or the gas to get there or the entrance fee. I don't think this is a bad thing though. I have worked hard to get where I am. And, although I love my job, what I've really worked for is the privilege of giving myself and my family the opportunity to engage in the world, to have the experiences that we want without having to worry about affording heat-electricity-a balanced meal. Money is a way of trading my expertise for summers on the beach, hikes in the woods, afternoons playing hide and go seek. Yes, money can buy happiness, but only if you truly spend it on what matters.

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