Maybe more money does buy more happiness
That's the conclusion 2 economists have come to. If it's true, why are so many people still so miserable?
According to research by Betsey Stevenson and Justin Wolfers of the University of Michigan, the relationship between well-being and income "does not diminish over time." That leads Stevenson and Wolfers to reject the idea of a point where someone no longer gains pleasure from the accumulation of more goods. This runs counter to a conclusion made famous by economist Richard Easterlin that increasing average income did not raise average happiness. It's known as the "Easterlin paradox."
Of course, the new research still leaves many questions unanswered. For instance, if money really does make people happy, they have a funny way of showing it. Depression affects about 6.4% of adults. According to data from the National Institute of Mental Health, more than one in 10 Americans age 12 or older takes antidepressants. An astounding 254 million prescriptions were written for them, at an expense of some $10 billion.
Many people who suffer from depression aren't treated. And others "treat" their illnesses by medicating themselves. An estimated 18 million adults in the U.S. abuse alcohol. An additional 22 million or so admit to using illegal drugs. Although many people with substance abuse problems are poor, not all lack money -- and many have more money than they know what to do with. A quick glance at celebrity news site TMZ.com proves that.
This raises another interesting question: Are people who tell economists that they're happy telling their doctors something different?
Follow Jonathan Berr on Twitter @jdberr.
I believe money can make you happier because it allows you to buy your way out of problems:
Don't like your neighbor? It's easy to move if you have a nice kitty full of money (and if you have money, you'll likely have good credit, as well).
Got a bunch of bills coming in? Easy to pay the bills if you have money--so no money stress.
Hate your significant other? Easy to pack up and move on--money allows it more easily than being broke.
Despise housework, yard work, etc....money buys you someone else's time to do the chores.
Money can buy your way out of lots of life's annoyances, so to me, that equals more happiness.
The true secret to happiness is wanting what you already have. The sooner you learn this concept, the quicker you'll get rid of all the clutter in your life that you don't really want or need, and the happier you'll be. This is true for material possessions, relationships, employment, living situations, etc...
Money Can't buy happiness but not having money can sure make you unhappy. It is hard to be happy when you are not able to feed yourself or your family.
This is what I figured out years ago when I was 18:
The only thing you need to have it made is the belief that you have it made.
It's all attitude.
Happiness has nothing to do with money.
I don't think money bought much happiness here. Kentucky-- the Mitch McConnell Endless Ranting and Filabuster State. A FIVE year old.
A 5-year-old Kentucky boy who received a .22-caliber rifle as a gift accidentally shot and killed his 2-year-old sister on Tuesday, according to state police.
The toddler was shot at just after 1 p.m. local time on Lawson’s Bottom Road in Cumberland County, police said. The girl was taken to Cumberland County Hospital and later pronounced dead.
The mother of the two children was at home at the time of the shooting, Cumberland County Coroner Gary White told the local newspaper, the Lexington Herald-Leader. He said that the family did not realize that there was a shell inside the gun. The firearm was kept in a corner, he said.
“It’s a Crickett,” Cumberland County Coroner Gary White told the paper. “It’s a little rifle for a kid.”
“The little boy’s used to shooting the little gun,” White said.
The shooting occurred while the boy was playing with the rifle, police said. It was “just one of those crazy accidents,” White told the Herald-Leader.
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Equity indices were pressured from the start following some overnight developments that weighed on sentiment. The market tried to overcome the early weakness, but could not stage a sustained rebound, ... More
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Bill Stiritz owns more than 5% of the company, and has experienced an estimated $145 million in paper losses on his investment.
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