As income inequality grows, money buys more happiness

As income inequality grows, money buys more happiness

Money buys more happiness than it used to. Many factors determine happiness, but one has stirred considerable controversy over the years: money.

While the adage says that money can’t buy happiness, several studies have determined that the more your income increases, the happier you are, up until $75,000 a year. After hitting that threshold, more income doesn’t make a difference.

But in a new analysis of more than 40,000 United States adults aged 30 and over, my colleague and I found an even deeper relationship between money and happiness.Because the survey data spanned five decades, from 1972 to 2016, we were […]

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