"Money can't buy happiness." There are many people who try and live by this quote and claim family and friends and intangibles are more important.
Daniel Kahneman, an American psychologist and a Nobel Prize winner in Economics, woulnd't necesarily agree with that quote, yet he would modify it to say "Lack of money could bring misery .
Throughout his research, he has found that the ideal average income for Americans is about $75,000. People with money over 75,000 don't progressivly have more happiness. More money (above $75,000) doesn't directly correlate with happiness, which goes along with "money can't buy happiness." On the other hand, people who have less and less money under (75,000) progressively become more unhappy and have more misery.
These numbers prove that although money can't buy happiness, it is very difficult to be happy and satisfied if the amount of money one makes is very low. It makes sense that it would be much more difficult to be happy if one is struggling to put food on the table which would replace their happiness with worry.
How many people actually live by "money can't buy you happiness?" Should more people try and live by it?
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Interesting blog post Brina. This makes me wonder, are there any people with minimal money that are actually really happy? I feel like there has to be at least someone out there living on the streets that is genuinely content.
ReplyDeleteIs it possible that looking at this topic from a different cultural standpoint could change your conclusion? For example, maybe money isn't a driving factor in European nations as much as it is in America?
ReplyDeleteWhen it comes to average amount of money for happiness, would different periods of your life affect that? for example, college, post-college, marriage, retirement...
ReplyDelete