How much money do you need to be happy?

27 October 2015
113 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

Turkish deputy-Prime Minister accuses Greece of oppressing religious minorities in latest Turkish tirade against Greece
GREECE
shares44 views
GREECE
shares44 views

Turkish deputy-Prime Minister accuses Greece of oppressing religious minorities in latest Turkish tirade against Greece

makis - Nov 17, 2017

Turkish Deputy Prime Minister Bekir Bozdag accused Greece of imprisoning Muslim Imams, despite the country being a member of the…

Greek PM says country would rely on itself to face flood disaster
POLITICS
shares55 views
POLITICS
shares55 views

Greek PM says country would rely on itself to face flood disaster

makis - Nov 17, 2017

Greek PM Alexis Tsipras thanked European countries for offering to help after the flash floods in western Attica, Wednesday, which…

US meteorologist explains deadly storm that flooded Greek towns
GREECE
shares76 views
GREECE
shares76 views

US meteorologist explains deadly storm that flooded Greek towns

makis - Nov 17, 2017

“When the Atlantic hurricane season begins to quiet down in late October and November, it’s time to cast an eye…

Leave a Comment

Your email address will not be published.