More Money Does Buy More Happiness
“Does money buy happiness?” asked economist Richard Easterlin in a famous 1973 essay in The Public Interest. His conclusion was that once a certain level of economic development had been achieved, greater wealth and income did not lead to greater overall happiness. At an aggregate level, more money does not buy more happiness, he claimed.
A new study in the journal Emotion presents a challenge to the Easterlin finding. Jean Twenge, a psychologist at San Diego State University, and A. Bell Cooper, a data scientist at Lynn University, examined data collected from 44,000 adult respondents to the General Social Survey (GSS) between 1972 and 2016 and found that more money does, in fact, correlate with more happiness.
The survey asks respondents to report their happiness on a three-point scale: “Taken all together, how would you sa
Article from Latest – Reason.com