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money can't buy happiness? well, actually it might.

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money can't buy happiness? well, actually it might (NYT).
"owning an iPod doesn’t make you happier, because you then want an iPod Touch. Relative income — how much you make compared with others around you — mattered far more than absolute income." That's what the old Easterlin paradox of "money can't buy happiness" is about.

Last week, at the Brookings Institution in Washington, two economists presented a rebuttal of the paradox. They argue that money indeed tends to bring happiness, even if it doesn’t guarantee it. David Leonhardt has a nice writeup in the NYT.

This post just has to be dedicated to jessamyn.


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