Sneak a peak in my window, as a witness in my pursuit of constant happiness.

This blog is my repository of valuable finds while beach combing the sands of the webbie shore.
Of things that make laugh, of things that make me ponder and of the things that lead to more answers than questions.
All that is posted here are for the jolly and the light-hearted, no time for DRAMA, no time for SOB stories.
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Home » Post Item » It’s official: Money can’t buy HAPPINESS.

It’s official: Money can’t buy HAPPINESS.

June 26, 2007

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A Princeton University study has confirmed that the link between money and happiness is exaggerated and an illusion.

The researchers, which included Nobel Laureate Daniel Kahneman, examined a range of data and foud that the effect of money on mood was greatly exaggerated (i.e. bucketloads of cash won't make you happier) and was only weakly correlated with moment to moment happiness.

Which, as the study claims, raises the question of why people are so focused on getting rich and whether we have our priorities around the wrong way. As the researchers say:

"Despite the weak relationship between income and global life satisfaction or experienced happiness, many people are highly motivated to increase their income.
"In some cases, this focusing illusion may lead to a misallocation of time, from accepting lengthy commutes (which are among the worst moments of the day) to sacrificing time spent socializing (which are among the best moments of the day)."

The study adds to the mix of research confirming that link between money and happiness is dodgy. But the picture is more complicated than that.

In his book Happiness, economist Richard Layard argues that happiness is the big conundrum of the last 50 years. Average incomes have more than doubled in that period and we have more food and cars, bigger houses, central heating, better health, a shorter working week and overseas holidays.But people are no happier.

The picture gets even more complicated when you compare countries. Population surveys show that among Western industrial nations, the richer states are no happier than the poorer ones. But in the places where people are closer to the breadline, folk are downright miserable.

So are we too hooked on making money? How much is too much? Or is it like what Woody Allen once said: "Money is better than poverty, if only for financial reasons."

Posted by matadoc at 5:52 pm | permalink

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