I have just read a great article by Elizabeth Dunn, an associate professor of psychology at the University of British Columbia, and Michael Norton, an associate professor of business administration at Harvard Business School,
Some of you may have read about this stuff before. I have written quite a bit of it here on this blog.But lots of this article is new and lots of the older stuff has been updated and given a fresh, clear explanation.
BUT what makes this article so good is the writing! It is brilliant. It explains everything in language that is so easy to read, and more important, so EEEZZZ to understand. I’m looking forward to reading their book.
Here are some excerpts and comments. The excerpts are in inverted commas (“………….”)
“HOW much money do you need to be happy? Think about it. What’s your number? ………Is it crazy to question how much money you need to be happy? The notion that money can’t buy happiness has been around a long time — ”
An important question that has bothered some of the biggest brains in the world. The article goes on to explore the ground expertly and offer answers.
“….. but in the United States, it seems to fall somewhere around $75,000. Using Gallup data collected from almost half a million Americans,…….”
In the UK, this would be roughly about 1,000 pounds a week. But the savage UK taxation would mean that a UK reader would need about 1,200 pounds a week. A very good wage indeed. One most workers could only dream about.
This article makes me wonder about the situation in the UK. A lot of people here realise that going to work will not make them any better off (and happier) so they live on State Benefits and use every trick in the book to avoid the Government’s attempts to get them to work.
“What we do with the money plays a far more important role than how much money we make.”
Lots of good detail here on how to spend money to buy happiness.
“In a recent study conducted by our student Jordi Quoidbach, chocolate lovers ate a piece of this confection”
Here is a study done by the writers that I’ve not heard of before.
“When we follow up with people who receive cash from us, those whom we told to spend on others report greater happiness than those told to spend on themselves.”
More new stuff.,
Love, Wealth and Happiness,
Read the article at http://www.nytimes.com/2012/07/08/opinion/sunday/dont-indulge-be-happy.html?smid=pl-share
And buy the book: Elizabeth Dunn, an associate professor of psychology at the University of British Columbia, and Michael Norton, an associate professor of business administration at Harvard Business School, are authors of the forthcoming book “Happy Money: The Science of Spending.”
- More Rich People Are Figuring Out How To Be Happy (huffingtonpost.com)
- The Right Way to Try to Buy Happiness (bucks.blogs.nytimes.com)
- You Won’t Believe How Much Money It Takes For Americans To Feel Happy (huffingtonpost.com)
- Which Makes You Happier: Money or Respect? (psychologicalscience.org)