Denmark is the happiest place on Earth! At least according to 24/7 Wall Street, which has released their list of the 10 "Happiest" Countries in the World. Determined using "11 measurements of quality of life including housing, income, jobs, community, education, the environment, health, work-life balance, and life satisfaction," the United States did not make the cut. The US, however, made it to #1 on the list of the 10 Countries with the Most Millionaires. [more inside]
"We infer that beyond about $75,000/y, there is no improvement whatever in any of the three measures of emotional well-being." Two social scientists at Princeton, Angus Deaton and Nobelist Daniel Kahneman, have a new paper in PNAS about money and the determinants of happiness. Increased income above $75,000 is not associated with higher subjective happiness, though it is associated with superior scores on measures of overall life satisfaction. Other tidbits: "Religion has a substantial influence on improving positive affect and reducing reports of stress, but no effect on reducing sadness or worry... The presence of children at home is associated with significant increases in stress, sadness, and worry."
On money and happiness Takeaway: buying stuff doesn't make you happier, although investing in experiences that strengthen social and familial bonds can. Interestingness: savings increased to 6.5% this year and some experts think this is permanent; conspicuous consumption is shifting to calculated consumption; “There’s massive literature on income and happiness. It’s amazing how little there is on how to spend your money.” [more inside]
When Money Buys Happiness. List the ten most expensive things (products, services or experiences) that you have ever paid for (including houses, cars, university degrees, marriage ceremonies, divorce settlements and taxes). Then, list the ten items that you have ever bought that gave you the most happiness. Count how many items appear on both lists. [more inside]
Happiness has zip to do with money. Anyone heard of Geoffrey Miller? He has v. interesting things to say about the relationship between human nature, money and power. Here, he has another take on global anti-Americanism.