You Manage It! 1: Global Money Doesn’t Buy Happiness. Well, on Second Thought . . .
If money can’t buy you love, can it still buy you happiness? A now-famous 1974 study seemed to indicate that the answer was no. U.S. economist Richard Easterlin, then at the University of Pennsylvania, studied comparative data on moderately wealthy and very wealthy countries and concluded that although rich people are happier than poorer people, rich countries are not happier than poorer ones, and they do not grow happier as they grow increasingly rich. The explanation for this apparent paradox, said Easterlin, was that only relative income—your income compared ...
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