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Finally a Scientific Answer to the Question Whether Money Can Buy Happiness?

Earlier this month psychologist and Nobel laureate Daniel Kahnemann and Angus Deaton of renowned Princeton University published a study in which they related the “well-being” of American people to their income. In a country that constitutes the “pursuit of happiness” in their declaration of independence, the press had a field day with this article of course.

Time titled “Do We Need $75,000 a Year to Be Happy?” and Reuters “Can money buy happiness? Maybe, up to $75,000” were among the moderate ones.

The Bloomberg Businessweek came up with a more daring headline: “After $75,000, Money Can’t Buy Day-to-Day Happiness

And a blog which I will not name here takes the cake with “Money Can Buy Happiness, Study Finds — But Only Up To $75,000”

Wow, have we found the ultimate answer to one of the essential questions in life now? Do we know now that money will make us happy, at least to a certain extent? And can we indeed identify that what we all should aim for is the optimum income of 75,000 US$ a year?

The answer is: not quite…