From the FT's Money Supply blog:
It’s official: money can buy you happiness. Or more precisely, having money to spend can.
That’s the conclusion from a new piece of analysis by the ONS which looks at how household spending correlates with self-reported levels of well being in the UK.
It found that, even after accounting for factors such as education
and employment, households who spent more money reported higher levels
of life satisfaction, as well as a greater sense that “things one does
in life are worthwhile .”
When researches looked purely at income levels, they found that
people who earned more were also happier. However, there is no evidence
that being richer makes people feel their life is more worthwhile.
Academics have puzzled over the link between money and happiness since the 1970s, when Richard Easterlin famously
posed the idea that money-related happiness might have a saturation
point. He suggested that income was correlated with happiness but only
up to a certain level, after which this correlation broke down....MORE
Next up: Fat-bottomed girls do indeed make the rockin' world go round.
