19 May Why riches are not equivalent to happiness
by Timothy So from Positive Psychology News Daily
Previous articles in PPND (here and here) have examined the relationship between money and happiness as well as the Easterlin paradox illustrated in the graph below. To further elaborate on why the riches are not equivalent to happiness, I adopt the approach used by Daniel Kahneman, winner of the Nobel Prize in Economics, of looking at happiness as moment-to-moment experience instead of general well-being or flourishing. When we break down happiness into moment-to-moment experience, riches do not necessarily make people happier. Why not?
Read more about the tenuous relationship between money and happiness – here