Maybe Money Does Buy Happiness After All

The paradox quickly became a social science classic, cited in academic journals and the popular media. It tapped into a near-spiritual human instinct to believe that money can't buy happiness. As a 2006 headline in The Financial Times said, "The Hippies Were Right All Along About Happiness."

But now the Easterlin paradox is under attack.

Last week, at the Brookings Institution in Washington, two young economists -- from the University of ... Full Story »

Posted by Leo Romero

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Kyra Troyan
3.0
by Kyra Troyan - Oct. 1, 2008

I like that the reporter bothered to track down subject matter experts in the field. So often the media takes a miniscule percentage difference between 20 rich Yalie undergrads and makes it seem like that study has the answer to life, universe & everything. This seemed a reasonable consideration of a long held theory. It discussed possible problems with the original theory, with the polling and in general seemed a very well rounded discussion of the issue at hand. As the writer points out there are many variable (how you phrase a question, the cultural issues, relative vs. absolute measures, etc. etc.) I'd much rather read a consideration of the issue like this than some "fluff" piece announcing "money CAN buy happiness" (or announcing the reverse). There are a lot of studies on happiness, satifaction and other issues, so you can never take one study too seriously.

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