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Happiness

#8 from 2015: The things we do: How money can buy you happiness

Roxanne Bauer's picture

Our Top Ten blog posts by readership in 2015. This post was originally posted on September 22, 2015.

People have been arguing for centuries about whether or not money can buy happiness. New research provides a fuller understanding of the relationship between what we earn and how we feel.

Cambodian farmer, Khout Sorn, stands in front of his banana trees in Aphiwat Village, CambodiaIt may seem a bit obvious: people with higher incomes are, generally speaking, happier than those who struggle. They worry less about paying their bills, they have greater choice in where they live or how they work, and they can provide creature comforts for themselves and their loved ones.  However, wealth alone is not a golden ticket. Indeed, what kind of money one has and how they spend it matters a lot more than a large income. 

The basics on happiness
When looking at all of these research results, it’s important to understand what is meant by the term ‘happiness’. Those in the field of happiness research divide it into two components, and individuals need both to be truly happy. But only one of those components keeps improving the more you earn. The other tops out after a certain point.

The things we do: How money can buy you happiness

Roxanne Bauer's picture

People have been arguing for centuries about whether or not money can buy happiness. New research provides a fuller understanding of the relationship between what we earn and how we feel.

ambodian farmer, Khout Sorn, stands in front of his banana trees in Aphiwat Village, CambodiaIt may seem a bit obvious: people with higher incomes are, generally speaking, happier than those who struggle. They worry less about paying their bills, they have greater choice in where they live or how they work, and they can provide creature comforts for themselves and their loved ones.  However, wealth alone is not a golden ticket. Indeed, what kind of money one has and how they spend it matters a lot more than a large income. 

The basics on happiness
When looking at all of these research results, it’s important to understand what is meant by the term ‘happiness’. Those in the field of happiness research divide it into two components, and individuals need both to be truly happy. But only one of those components keeps improving the more you earn. The other tops out after a certain point.

Weekly Wire: The Global Forum

Roxanne Bauer's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

So Maybe Money Really Does Buy Happiness?
Inc. Magazine
Emerging Asian nations are finding out what developed ones did years ago: money--and the stuff it buys--brings happiness. Levels of self-reported well-being in fast-growing nations like Indonesia, China and Malaysia now rival those in the U.S., Germany and the United Kingdom, rich nations that have long topped the happiness charts, according to a Pew Research Center global survey released Friday. It says it shows how rises in national income are closely linked to personal satisfaction. The pollsters asked people in 43 countries to place themselves on a "ladder of life," with the top rung representing the best possible life and the bottom the worst. Pew carried out the same survey in 2002 and 2005 in most of those countries, enabling researchers to look at trends over time.

Telling It Straight: How Trustworthy Government Information Promotes Better Media
CIMA
In new and emerging democracies, in countries coming out of conflict, in societies in transition where for decades information was repressed, being open with the public through the press and disseminating reliable information in a systematized and responsive fashion is a new concept. Yet, just as the media are crucial to informing the public, so too are governments in getting out information that reporters and hence citizens can use.

Weekly Wire: The Global Forum

Roxanne Bauer's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

 
The Challenge Of Connecting The Unconnected
TechCrunch
Every time we return to or sign up for an Internet service (e.g. Facebook, Google, Gmail, YouTube, etc.), we rely on what UX experts call a “mental model” for navigating through the choices. A mental model is essentially a person’s intuition of how something works based on past knowledge, similar experiences and common sense. So even when something is new, mental models help to make sense of it, utilizing the human brain’s ability to transcode knowledge and recognize patterns. For instance, most of our grandparents can hit the ground running with changing the channel or increasing the volume when handed the remote control for the latest television available in the market today, squarely because of a well-developed mental model for TV remote control units. But our grandparents may not have the same level of success when using Internet services, smartphones or tablets. Under-developed mental models in these domains are their primary obstacles

Beyond Magic Bullets in Governance Reform
Carnegie Endowment for International Peace
Domestic reformers and external donors have invested enormous energy and resources into improving governance in developing countries since the 1990s. Yet there is still remarkably little understanding of how governance progress actually occurs in these contexts. Reform strategies that work well in some places often prove disappointing elsewhere. A close examination of governance successes in the developing world indicates that effective advocacy must move beyond a search for single-focus “magic bullet” solutions toward an integrated approach that recognizes multiple interrelated drivers of governance change.
 

Weekly Wire: The Global Forum

Roxanne Bauer's picture
These are some of the views and reports relevant to our readers that caught our attention this week.

What makes people happy and why it matters for development
The Guardian
Happiness economics is a new field that strives to find out what really makes people happy based on surveys asking citizens: "How satisfied are you with your life as a whole these days?" or "How happy are you?". Rather than letting experts define what makes for the good life from an armchair perspective, happiness economics allows us to identify the factors that matter for people's wellbeing as they themselves experience it.  When the original millenium development goals (MDGs) were formulated, happiness economics barely existed. Before 2000, less than five scientific articles a year dealt with "subjective wellbeing", academic speak for happiness and life satisfaction. Over the course of the past decade, though, their number has risen enormously. A World Happiness Report launched last year at the United Nations summarises the evidence to date.

The problem with data journalism
Quartz
The recent boom in “data-driven” journalism projects is exciting. It can elevate our knowledge, enliven statistics, and make us all more numerate.  But I worry that data give commentary a false sense of authority since data analysis is inherently prone to bias. The author’s priors, what he believes or wants to be true before looking at the data, often taint results that might appear pure and scientific. Even data-backed journalism is opinion journalism. So as we embark on this new wave of journalism, we should be aware of what we are getting and what we should trust.  Economics blogger James Schneider recently opined on how journalists highlight research, even if it’s not credible, that confirms their argument and ignores work that undermines it.