New Study Finds Money Can Buy Happiness

Written by on July 11, 2020

A brand new examine revealed in Emotion, titled The Increasing Class Divide in Happiness in america, 1972–2016, has decided that cash should purchase happiness, disputing the age-old adage “cash cannot purchase happiness.” The examine discovered a correlation between earnings and happiness.

Money, Happiness, WealthChris McGrath / Getty Photographs

“We do not discover a really fizzling out of happiness on the prime of the earnings scale — extra money steadily brings extra happiness,” mentioned the examine’s lead writer, Jean Twenge, in response to Enterprise Insider. “It is also doable that the tapering impact is an outdated discovering, because the hyperlink between cash and happiness has grown.”

The examine additionally analyzed the happiness to wealth ratio by way of the lens of race: “We will not say for certain, however the enhance in happiness for Black Individuals since 1972 may very well be as a result of positive factors in training and alternatives over this time,” Twenge mentioned. “It will likely be fascinating to see if this pattern holds true in the course of the Trump presidency and the pandemic; it is doable Black Individuals’ happiness will lower after 2016.”

The examine concluded earlier than Donald Trump’s election and due to this fact knowledge after that time, together with the latest coronavirus pandemic, will not be included.

“It will likely be fascinating to see what occurs with these tendencies in 2020, given the large adjustments wrought by the pandemic and the protests,” Twenge mentioned. “I believe it is possible that the rising class divide in happiness has continued in the course of the Trump presidency, as earnings inequality has stayed excessive. As well as, the pandemic is having an even bigger financial affect on lower-income staff than higher-income, which can contribute to an excellent bigger class divide in happiness in 2020.” 

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