Study: Money Does Buy Happiness

Study: Money Does Buy Happiness

According to the old sayings, money doesn't buy happiness, and people on their deathbed never wished they'd spent more time in the office. However, some new research has found that more money actually can make you happy.

A story in today's New York Times looks at the findings of two economists from the University of Pennsylvania who conclude money does indeed bring happiness, even if it doesn't guarantee it. The findings run counter to a widely-cited 1974 happiness study that found gains in income, which provided more than basic necessities, didn't make people happier -- it just re-set the bar for them wanting more. This has become known as the Easterlin paradox. "To put it in today's terms, owning an iPod doesn't make you happier, because you then want an iPod Touch," the piece says.

Popular in the Community

Close

What's Hot