March 23rd in Careers, Money by Editor .
The Money-Happiness Equation
What is the X factor that makes the difference?
Just being rich isn’t it. You have to be richer than your friends. Which makes sense really. Above a certain level of wealth one no longer has needs, just wants. And fulfilling wants isn’t psychologically all that satisfying – retail therapy being a good example. Unless it fills your friends with envy of course…
Times: Earning more money only makes people happier if they feel richer than their friends, neighbours and colleagues, according to a new study.
Researchers at the University of Warwick and Cardiff University said that the findings may explain why rising economic prosperity over the last 40 years has not increased overall levels of happiness.
