Money DOES Buy Happiness, Wharton Report Suggests

12/14/2010 08:21 am ET | Updated May 25, 2011
  • 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."

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