Sunday, June 14, 2015

Money Crashers: Can Money Buy Happiness?

My latest post for Money Crashers is one that I'm rather proud of. It's on the fascinating (at least to me) topic of happiness economics, which I've so far covered only briefly on this blog. I wrote a post three years ago in response to a Washington Post article on the subject, in which I summed up some of the major discoveries made by happiness economists, such as:
  • Higher income only improves day-to-day happiness up to a limit of about $75,000. Beyond that point, day-to-day happiness doesn't increase, but "life satisfaction" does.
  • Buying more stuff doesn't tend to make us happier, because we quickly get used to what we have.
  • Spending on experiences does make us happier, because it ties in with our social needs.
In the new article, I go into all these findings in much more detail, along with a lot of others. And I talk about how happiness economists are applying their findings to the health of whole nations, not just individuals, much like David Cameron did four years ago in seeking to create a National Happiness Index for Great Britain.

Here's the full article: "Can Money Buy Happiness? - Understanding the Economics of Happiness"

Also, let me reassure everyone that I will post a real blog entry soon. I've been posting these links to my Money Crashers pieces to fill in the blog during the week, because my work for Money Crashers is keeping me busy Monday through Friday and I usually only have time to update my own blog on the weekends...but I promise not to neglect it entirely.
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