money can't buy happiness? well, actually it might.
May 5, 2008 9:37 AM Subscribe
posted by krautland (20 comments total)
2 users marked this as a favorite
money can't buy happiness? well, actually it might
"owning an iPod doesn’t make you happier, because you then want an iPod Touch. Relative income — how much you make compared with others around you — mattered far more than absolute income." That's what the old Easterlin paradox of "money can't buy happiness" is about.
Last week, at the Brookings Institution in Washington, two economists presented a rebuttal of the paradox. They argue that money indeed tends to bring happiness, even if it doesn’t guarantee it. David Leonhardt has a nice writeup in the NYT.
This post just has to be dedicated to jessamyn.