Money won't buy happiness, says a group of distinguished economists and psychologists.
"Would you be happier if you were richer?" ask Princeton researcher Daniel Kahneman, PhD, and colleagues. Kahneman shared the 2002 Nobel Prize for applying the principles of psychology to economics.
Their answer: No. It's just an illusion that wealth brings happiness.
"When someone reflects on how additional income would change [their sense of] well-being, they are probably tempted to think about spending more time in leisurely pursuits such as watching a large-screen plasma TV or playing golf," Kahneman and colleagues observe. "But in reality, they should think of spending a lot more time working and commuting and a lot less time engaged in passive leisure. … By itself, this shift in time is unlikely to lead to much increase in experienced happiness."
Kahneman and colleagues' theory appears in the June 30 issue of Science. (Originally published on FOXNews.com, June 30. Click on blog title for more details.)
Well I always knew that. It seemed that as I earned a higher salary as a journalist, I had more responsibilities and was under more and more stress. Sure I could buy more stuff to fill my apartment, but thank God I realized early on that what made me really happy were the simple things...going to the beach, watching a glorious sunset, being in love (well, most of the time anyway), just eating and drinking with family and friends. I always pray that God not make me richer but give me just enough to be able to live comfortably...have a roof over my head, three square meals a day, and clothes. Money can't buy you happiness. It can't buy you love. And is not worth anything unless you have friends and family to share it with.