Tuesday, August 16, 2005 | |

Was the Preacher Lying?

Money Can Buy Happiness
"Psychology has shown that richer people generally rank the overall quality of their lives more favorably than poorer people do. At the same time, their actual happiness seems to be motivated less by their ability to buy more than by being able to keep up with those with comparable resources in their own age group (five years older or younger), according to a new study.
"Our findings point to the possibility that, rather than promoting overall happiness, continued income growth could promote an ongoing consumption race where individuals have to consume more and more, just to maintain a constant level of happiness," writes Glenn Firebaugh of Pennsylvania State University."