1) Generally speaking, richer countries are happier countries (see above). But since many of these rich countries share other traits — they’re mostly democracies with strong property rights traditions, for example — some studies suggest that it’s our institutions that are making us happy, not just the wealth. More on that in a second.
2) Generally speaking, richer people are happier people. But young people and the elderly appear less influenced by having more money.
3) But money has diminishing returns — like just about everything else. Satisfaction rises with income until about $75,000 (or perhaps as high as $120,000). After that, researchers have had trouble proving that more money makes that much of a difference. Other factors — like marriage quality and health — become more relatively important than money.
Read the rest. [Image: new economics foundation]
i just spent about $75 on a new French press, Rxs, shampoo, a toothbrush, and toothpaste (sidenote: have you SEEN the toothbrush aisle lately? there are, like, 100000 different kinds of toothbrushes). These are all things I need to live and not be cranky or have raging heartburn or really stanky breath.
walking home i was bitching to myself about how much things cost and all of that, then it occurred to me that I wouldn’t bat an eye about spending the same amount on a pair of shoes or a bag or a night of drinks.
i’m trying really hard to curb my spending and prioritize…really.
Good luck with that. I’m really trying hard to make a lot more money and hire help.
Acting’s a good racket. And lets face it, you can’t beat it for the bread.
Steve McQueen, 1930 – 1980