How much money do you need to be happy?

27 October 2015
87 Views

Angus Deaton, Princeton economist, argues that there is a “happiness plateau” that can be reached above an annual salary of $75,000 (49,000 pounds). His study with Daniel Kahneman. Anything above that is really quite useless to happiness.

The motivation for the study was the debate as to whether “money buys happiness” that often comes up in discussions of subjective well-being. Hence, the two experts decided to look at income rates in association with well-being. The experts found that low incomes exacerbate the emotional pain associated with misfortuntes such as divorce, ill health and loneliness, whereas high income can buy life satisfaction. Though high income rates can’t buy happiness per se, low income rates are associated with both low life evaluation and low emotional well-being.

Hence, the conclusion of the study is that giving people an income more than $75,000 is not going to do much for their daily mood but it is going to make them feel they have a better life.

You may be interested

GREECE
shares51 views

Olympiakos announces Lemonis as new coach

makis - Sep 25, 2017

Former coach of Olympiakos Takis Lemonis will take the helm of the club after the administration sacked coach Besnik Hasi…

Latest poll: ND leads SYRIZA by 13%
POLITICS
shares62 views
POLITICS
shares62 views

Latest poll: ND leads SYRIZA by 13%

makis - Sep 25, 2017

Major opposition party New Democracy (ND) holds a 13% point lead over ruling leftist party SYRIZA in the latest poll…

Dijsselbloem says “clean exit” from memorandum for Greece the goal, but supervision will continue…
FINANCE
shares73 views
FINANCE
shares73 views

Dijsselbloem says “clean exit” from memorandum for Greece the goal, but supervision will continue…

makis - Sep 25, 2017

“We share a common and strong interest in completing the review quickly before the end of year”, said EuroGroup President…

Leave a Comment

Your email address will not be published.