Sunday, July 11, 2010

Money Can Buy Satisfaction–If Not Happiness

by Robert Frank

Wall Street Journal
July 2, 2010

The old saw that money can’t buy happiness always struck me as too vague.

What kind of money? What kind of happiness? Is it money that takes a person from $1 to $1 million, or from $100 million to $200 million? And is it happiness as in freedom and fun? Or happiness as in inner peace?

The flood of happiness research is finally providing more specifics. A new analysis of Gallup World Poll data, surveying 136,000 people across 132 nations from 2005 to 2006, suggests that income is much more highly correlated to happiness (or at least a form of it) than previously thought.