We find that well-being rises with income, whether we compare people in a single country and year, whether we look across countries, or whether we look at economic growth for a given country. Through these comparisons we show that richer people report higher well-being than poorer people; that people in richer countries, on average, experience greater well-being than people in poorer countries; and that economic growth and growth in well-being are clearly related. Moreover, the data show no evidence for a satiation point above which income and well-being are no longer related.
That is Daniel Sacks, Betsey Stevenson and Justin Wolfers in a
new paper that analyzes previous research on the connection between money and well-being. No matter how you cut it, more money makes people happier. Maybe GDP is a
good measure of well-being...
1 comment:
I can see what you are trying to say and illustrate with your method money is not all happiness how can you be happy if you don't have someone to share it with. It's interesting I'm a student taking up Financial Course and I'm actually a member of financial planning association texas I'm mastering different Financial situation thanks for this new ideas in mind truly a big help to my career cheers!
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