Mar 15, 2023
The million-dollar question answered
The debate whether money can buy us happiness or not has finally been answered by a study by Daniel Kahneman, a Nobel-Prize-winning economist, and Matthew Killingsworth, from Princeton University and the University of Pennsylvania.
More than 33,000 people aged between 18 and 65 were surveyed through a smartphone app, as per a report by The Washington Post.
Contradicting 2010 research
This study contradicts a 2010 research that said money could only boost happiness up to a point – about $75,000 in annual earnings.
The people surveyed
The people covered in the survey had a household income of a minimum $10,000 a year.
According to the report, the responses included the feelings at random intervals and they ranged from “very good” to “very bad”.
CBS news said that the study had 2 results.
Happiness does improve with higher earnings, up to $500,000 a year.
Higher incomes don’t make much of a difference and this was only 15% of people in the survey.
Before you believe it, Mr Killingsowrth cautioned “Money is not the secret to happiness, but it can probably help a bit.”
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