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Science Confirms Once And For All, Money Does Buy Happiness

By Word / 04.30.13

A pair of University of Michigan economists decided to find out if there was any truth to the adage “money can’t buy happiness.” After gathering data from participants in 150 different countries, Betsey Stevenson and Justin Wolfers found that for both the rich and the poor, as income increases, so does happiness and well-being.

And if you’ve ever wondered why billionaires can never stop raking in the dough, that’s because one can never have too much money – thus happiness – according to the economists. “While each additional dollar of income yields a greater increment to measured happiness for the poor than for the rich, there is no satiation point” noted the findings that’ll be published in the May 2013 issue American Economic Review.

So the next time you’re down in the dumps about being broke and a friend tells you money can’t buy you happiness, it’s okay to call them a liar to their face.


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