Walk into any local library or Barnes and Noble and you are likely to notice a significantly large 'Self-Help' section with books lining the shelves all attempting to solve what may be humanity's greatest question. How can we become happier? Close your eyes and imagine what would make you really happy right now. Most people will automatically visualize material goods such as new clothes, a fancy car, and a luxurious home as these are the trademarks of the ultra rich. But what makes us come to the conclusion that these people are actually any happier than us at all?
According to Brooks', even money does not provide sustained happiness. "In a 1978 study, two psychologists interviewed 22 major lottery winners and found that the joy of sudden wealth wore off in a few months.They had a harder time than others enjoying life's prosaic pleasures: watching television, shopping, talking with friends, and so forth." Brooks' article cites an economic term called the 'hedonic treadmill' to explain this mindset. This basically means that humans are extremely adaptive, even to money they earn. So if someone is currently making $45,000 a year, they will crave more. Yet, even if they get that $75,000 salary they always wanted, suddenly $100,000 starts looking good. It is part of human nature to constantly look ahead and crave more.
A recent study conducted at Harvard makes clear that our happiness is very subjective. They asked students and faculty participating to choose whether they would rather make $50,000 a year while everyone around them made $25,000 or make $100,000 while everyone else made $200,000. In this hypothetical situation, prices of items would not change so making more money just allowed the purchase of more luxury items. A majority, 56% of participants, chose the first option which left them with less money but richer than their neighbors. Yet, the conclusion made from this study does not prove money equals happiness. In contrast, it simply proves that feeling richer, more successful, and overall better-off is the key to true happiness. And if this is the case, is it possible that with such a subjective mindset towards money, happiness may never be attainable at all?
Source: SIRS Knowledge Source
Brooks, Arthur C. "Does Money Make You Happy?." Christian Science Monitor. 24 Jun 2008: n.p. SIRS Issues Researcher. Web. 08 Nov 2012.
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