Does Money Buy Happiness?.... it Depends

Adversarial Collaboration sounds like an oxymoron, but it’s really a useful tool, especially in those hard-to-solve problems posed by the human condition. The technique was used by two well-known experts in the fields of psychology, decision-making and economics.

Daniel Khaneman, one of my favorite authors on the subject, Matthew Killingworth and Barbra Mellers also experts on the same subjects, have recently published the results of an in-depth study on the subject of how personal income contributes to an individual’s overall happiness.

A lot went into the study but, at a rudimentary level, it indicates that the unhappiest people become happier with increased income until they reach a level of around $75K to $100K annual income. Then they plateau and increases don’t contribute to happiness. Those who start out relatively happy do not tend to reach a noticeable plateau up through an income of $400K.

Here’s an abstract of the published study:

“You can’t buy happiness, but you can rent it for a few hours.”

Wealth cannot buy you happiness, but it can buy you freedom to an extent.

As an acquaintance told me, money may not buy you happiness but it can sure buy peace and quiet. This was shortly after a divorce.

can money buy you happiness - no, but money can buy bright memories that will make you happy

Money gives you more freedom and that makes people more happy. All depends how you actually spend the money

Don’t you think the person making more money will naturally spend it to make themselves more happy? When would they not do so?

Agreed…which is why I would like to see a consumption tax system instead of the income tax system that we have now.

Changing our FIT system to a consumptive model would wreck our national economy. It’ll never happen.

A tax based on income encourages spending and investment, and a tax on consumption deters both… Spending is what drives the American economic engine.

I don’t understand all the pros and cons of the national sales tax, but I do know is that it would help get taxes paid by people who are paid in cash and often don’t report it, or pay taxes on it. I know people in that situation. Since they don’t report the income they often qualify for government programs, handouts and subsidies that they don’t really qualify for.

Very true statement. Its interesting to hear people complain about how taxpayers are able to take advantage of the complexities in our current 60k page tax code, but are adamant against changing it.

Our economy is based on the capitalist system. The reason that is so is because it is, in itself, a self-regulating, self-adjusting system of effort and profit. It encourages profit and discourages wasted effort: i.e. effort expended for no gain in profit.

Left alone, an economy based on capitalism alone will grow, expand and develop to a point where one entity will dominate the entire system. Our economic system developed under the watchful eye of our governmental systems which are democratically managed by our voting citizens. That makes it a “market” economy.

So what sounds like a good taxing strategy at first blush, like a Federal tax based on consumption, might look good, it is in serious conflict with the basic motivations driving our profit/effort market structure.

That is to say… if you make it too expensive in effort for a reasonable gain in profit, you will discourage the consumption motivation which in turn will reduce demand for the folks producing the products being consumed which in turn will reduce the income of the consumers.

Money is everything, but it is way ahead of what is in second place!

It is really depends. We all know that the money ain’t everything. But they make us to afford what we want and what can really bring us happines. I actually working on it right now because I wanna open my own e-store and hope that it will bring me what I want. I have not know that such sphere can have huge amount of details but I am on my way so right now I am already learning about what is and how to create a sku number. So wish me luck guys!

Ya never know what will work until you try! … GOOD LUCK! :+1:

Please see my private message. I have purchased UPC codes and created SKUs cheaply or for free.

Money in and of itself does not supply happiness. But it can provide security, and than can bring happiness. And it can provide all sorts of opportunities, which can also provide happiness. If you focus on greed and acquisition, the satisfaction is probably transitory. If you focus on purpose, likely not.