Money DOES Buy Happiness, Wharton Report Suggests
The Daily Pennsylvanian:
Does money really buy happiness? A recent study by the Wharton School suggests that in some cases, it does -- though not necessarily the way one would think.
In a paper entitled "Subjective Well-Being, Income, Economic Development and Growth," Wharton professors Betsey Stevenson and Justin Wolfers, along with first-year Applied Economics Ph.D. candidate Daniel Sacks, argue that "measured subjective well-being grows hand in hand with material living standards."