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Bruce
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31-08-2014, 06:09 AM
1

Money CAN buy Happiness

A new working paper by economists Betsey Stevenson and Justin Wolfers uses a trove of data generated by Gallup, a polling firm, from its World Poll. Gallup asked respondents around the world to imagine a "satisfaction ladder" in which the top step represents a respondent's best possible life. Those being polled are then asked where on the ladder they stand (from zero to a maximum of 10), and how much they earn. Though some countries seem happier than others, people everywhere report more satisfaction as they grow richer. Even more striking, the relationship between income and happiness hardly changes as incomes rise. Moving from rich to richer seems to raise happiness just as much as moving from poor to less poor. One never really grows tired of earning more.

Is this true in your life?

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31-08-2014, 06:20 AM
2

Re: Money CAN buy Happiness

I think it has always seemed obvious to most people Bruce that more money means less worry equals more happiness. But how does that old saying go, "even if money doesn't buy happiness I'd rather be miserable with it than without it"
lovemyboys
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31-08-2014, 06:26 AM
3

Re: Money CAN buy Happiness

Ha Barry, the version I heard was '...I'd rather cry in a Jaguar than a bus!'
But I'll never know!
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31-08-2014, 06:54 AM
4

Re: Money CAN buy Happiness

We often holiday at the Italian lakes and I sometimes fantasise about owning a posh villa on the edge of a lake and having my own boat and a landing stage. Anyone got £10M pounds to give me ?
lovemyboys
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31-08-2014, 07:03 AM
5

Re: Money CAN buy Happiness

No problem Alan!

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31-08-2014, 07:06 AM
6

Re: Money CAN buy Happiness

Money doesn't buy happiness, but it does allow you the freedom to do some of the things that make you happy.

Lovemyboys can you send some of that dosh my way, I want to be really happy!
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31-08-2014, 07:12 AM
7

Re: Money CAN buy Happiness

You got it LT!



Above pile is a few inches deep - enough?!
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31-08-2014, 07:28 AM
8

Re: Money CAN buy Happiness

Interesting that the income axis is a log scale. So you have to keep doubling your income to increase satisfaction by the same amount.

This graph shows a range of modest incomes - up to about £50k for the UK (assuming the data is in US dollars)
I wonder if the graph flattens out as you become very rich.
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31-08-2014, 03:59 PM
9

Re: Money CAN buy Happiness

Originally Posted by Linden Tree ->
Money doesn't buy happiness, but it does allow you the freedom to do some of the things that make you happy.

Lovemyboys can you send some of that dosh my way, I want to be really happy!
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31-08-2014, 04:01 PM
10

Re: Money CAN buy Happiness

[QUOTE=lovemyboys;526296]You got it LT!



Above pile is a few inches deep - enough?! [/QUOTE

Can you send me some as well pretty please !
 
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