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Contrary to previous research: money does buy happiness - even if you are already rich - voila! Of money


After a previous study claimed not at all costs, a new study by the Israeli Nobel Prize winner in economics Daniel Kahneman found that any extra money will make you happier, even if you are already rich

Five facts about money ("must not miss" system)

Well, we always suspected.

A completely surprising study (look surprised for a moment) revealed that money makes you happier.

Wait a minute, this research isn't a total waste of time.

It turns out that a previous study claimed that money buys happiness - but up to a certain amount and when we earn beyond it our level of happiness no longer changes.

The new study claims that even if we earn more than it - we will be happier.

The study found that up to a profit of 500 thousand dollars a year - our happiness will definitely continue to increase.

After the Israeli economist and Nobel laureate in economics, Daniel Kahneman, re-examined with the help of his colleagues the topic he studied more than a decade ago, he discovered that contrary to what he thought in the past - happiness continues to increase even with an income exceeding $75,000 a year.

His study from 2010 claimed that this trend stops after the income reaches around 75 thousand dollars a year (270 thousand shekels), but his new study claims that the ceiling of wealth and happiness is higher and stands at 500 thousand dollars a year (about 1.8 million shekels) - and in fact there is a situation where it is even higher than that, since a figure higher than that was not tested in the study.

A study found: any amount of money will make you happier (Photo: Giphy)

Does money buy happiness?

This is a question that economists, psychologists and philosophers have wrestled with for centuries.

Daniel Kahneman and his colleagues Matthew Killingsworth and Barbara Mellars, from Princeton University and the University of Pennsylvania, continued to address this question and published their new findings in the journal Proceedings of the National Academy of Sciences - which contradict Kahneman's previous findings.

They interviewed 33,391 Americans, with their lowest salary starting at $10,000 a year, and tracked them using a smartphone app that reached out to them at different points in the day to ask them how they were feeling.

The researchers compared these feelings to their income to reach their conclusions.

They determined that money does contribute to happiness, even with an income higher than $80,000 a year, with levels of happiness increasing according to economic gain - as long as that person enjoys a certain base level of happiness in advance.

The happiness level continues to rise at least up to a total income of $500,000 per year, with data lacking to determine income levels higher than that.

Another study by Kahneman

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rich and miserable

Killingsworth said in a statement: "In the simplest terms, this suggests that for most people, greater income is associated with greater happiness. The exception is people who are financially well-off but unhappy. For example, if you're rich and unhappy, more money won't help you. The rest, more money was associated with higher happiness to varying degrees."

Killingsworth said about 20 percent of the people surveyed are in the "unhappy minority," whose happiness doesn't increase with an income above $100,000 a year.

These people may suffer from tragic life events that outweigh any improvement that money can bring with it, the researchers argued.

"This income threshold may represent the point beyond which existing suffering is not relieved by higher income," wrote Kahneman, Killingsworth, and Mellors, "Heartbreak, bereavement, and clinical depression may be examples of such suffering. If you are rich and unhappy, more money will not help you ".

More on the same subject,

money can buy you happiness,

Research found: this is the exact annual salary that will make you happy

Money and happiness (Photo: Giphy)

For the remaining 80% of the study, the conclusion was that, in general, happiness continues to rise with their income levels.

Killingsworth added: "Money is just one of the many components of happiness. This does not mean that money can solve all of a person's problems. Money is not the secret to happiness, but it can probably help a little."

Indeed, another study on the science of happiness found that other aspects of life, from community to hobbies, have a measurable impact on satisfaction.

It should also be noted that Kahneman and his colleagues' data collection seems to rely on correlation rather than causation.

Also, it is not clear if the responses to the application that measures happiness were a result of their financial situation or if the subjects were simply in a good or bad mood at the time - regardless of their state in the bank.

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Source: walla

All business articles on 2023-03-18

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