Ms. Stevenson and Mr. Wolfers write in a study for the American Economic Review, Papers and Proceedings that there is no evidence in Richard Easterlin’s study in the 1970′s that higher income does not equate to being happier .
“We find no evidence of a satiation point. The income-well-being link that one finds when examining only the poor, is similar to that found when examining only the rich. We show that this finding is robust across a variety of datasets, for various measures of subjective well-being, at various thresholds, and that it holds in roughly equal measure when making cross-national comparisons between rich and poor countries as when making comparisons between rich and poor people within a country.”
Every dollar more brings a “greater increment to measured happiness” for both poor and rich, with “no satiation point,” according to the study published by Brookings.
Do you agree that that having more money makes one happier?
- Obianuju Nwabueze likes this.
- Cynthia Nkiru So many pple wil kick against dis cos de r nt rich but d truth is money gives u 99.9 happines dats just d plain truth,better to cry in d masion than face me i face u!
- Francisca Dimma Nicholas Must wealthy pple are even lookin for where to buy happiness. I dont belive money can buy happiness.
- Mike M Snr The bible says " money aswereth all ". When it comes to money, I can't be hypocritical and pretend as if I don't need it, as far as I'm concerned, many people who are not happy in life is because of problems. And money can solve many problems. So I do agree, money can buy happiness
