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Money can buy happiness

economist.com

11–20 of 172 posts

Re: Money can buy happiness

#11
I may sound like a conspiracy theorist but oh well:

The cynic in me says such graphs are (figuratively) propaganda by the 1% (of 1% in wealth, not income), in that now we can define what the masses are "ok" with while we, the 1% of the 1%, can accelerate our gains further. Let the rest of them have crumbs and be content.

Re: Money can buy happiness

#12
I think the evidence they show is actually very compelling. Even though there are clearly country fixed effects, the graph shows that both within and across countries.

Of course what self reported happiness really measures is another matter...

Re: Money can buy happiness

#13

The richest in India are less happy than Brazil's poorest. But leave it to the economist to find that money makes you happy while ignoring that some countries seem much happier. If you were to pick a country where you could randomly end up anywhere on the income scale, which would you pick? Of the countries listed, I'd pick the United States, followed by Brazil, Britain and Mexico.

I'd pick somewhere in northern Europe probably. I might take the U.S. option if you could guarantee I was in the top 75% of the U.S. income scale. If I could really be randomly assigned anywhere on the scale, though, the U.S. seems too risky, because the low end of American lifestyles is really low, not even reaching the level of first-world poverty. Driving through parts of Mississippi was pretty surprising for someone who had never been there before: actual dilapidated shacks without running water, like you see on National Geographic documentaries about poor parts of the world. And urban American poverty, while it has running water, comes with too high a risk of violence.

Re: Money can buy happiness

#14

The richest in India are less happy than Brazil's poorest. But leave it to the economist to find that money makes you happy while ignoring that some countries seem much happier. If you were to pick a country where you could randomly end up anywhere on the income scale, which would you pick? Of the countries listed, I'd pick the United States, followed by Brazil, Britain and Mexico.

"But leave it to the economist to find that money makes you happy while ignoring that some countries seem much happier."

From the article: "Though some countries seem happier than others, people everywhere report more satisfaction as they grow richer."

So I wouldn't say they ignored it, it's pretty explictly mentioned AND talked about in the same sentence that they say that satisfaction scales with income.

Re: Money can buy happiness

#17

The richest in India are less happy than Brazil's poorest. But leave it to the economist to find that money makes you happy while ignoring that some countries seem much happier. If you were to pick a country where you could randomly end up anywhere on the income scale, which would you pick? Of the countries listed, I'd pick the United States, followed by Brazil, Britain and Mexico.

Why not Australia or Canada?

I am in Canada :)

It just wasn't in the chart.

Re: Money can buy happiness

#19
post #14

The richest in India are less happy than Brazil's poorest. But leave it to the economist to find that money makes you happy while ignoring that some countries seem much happier. If you were to pick a country where you could randomly end up anywhere on the income scale, which would you pick? Of the countries listed, I'd pick the United States, followed by Brazil, Britain and Mexico.

"But leave it to the economist to find that money makes you happy while ignoring that some countries seem much happier." From the article: "Though some countries seem happier than others, people everywhere report more satisfaction as they grow richer." So I wouldn't say they ignored it, it's pretty explictly mentioned AND talked about in the same sentence that they say that satisfaction scales with income.

Fair enough; mentioning it in passing is not completely ignoring it.

Yet a realistic headline would have best been: "For happiness, your country is more important than your income".

It seems to me that any intellectually honest and curious person looking at the data - instead of trying to prove their pet theory - would immediately remark on that most salient feature.

Re: Money can buy happiness

#20
post #4

In regards to subjective happiness and income, I like to pose the question: Would you rather earn $80,000 and live in a neighbourhood of those earning $100,000, or would you rather earn $100,000 and live in a neighbourhood of those earning $80,000. Money and happiness is entirely subjective according to your environment.

Re-phrased: Would you rather make $100k in San Francisco, Pittsburgh, Miami, or Havana?
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