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Fri 1 Sep, 2006 05:01 pm
By Paul Andrew Bourne
An economist (Easterlin) studying happiness and income, of all social scientist, found an association between the two phenomena (Easterlin 2001a, 2001b), (see also Stutzer and Frey 2003). He began with this statement that "the relationship between happiness and income is puzzling" (Easterlin 2001a, 465), and found people with higher incomes were happier than those with lower incomes - he referred to as a correlation between subjective well-being and income (see also, Stutzer and Frey 2003, 8). He did not cease at this juncture, but sought to justify this realty, when he said that "those with higher income will be better able to fulfill their aspiration and, and other things being equal, on an average, feel better off" (Easterlin 2001a, 472). Well-being, therefore, can be explained outside of welfare theory and/or purely on objectification- objective utility (See for example, Kimball and Willis 2005; Stutzer and Frey 2003).
(Excerpt )
"I've been rich and I've been poor... Believe me, rich is better ! "
MAE WEST
The whole notion is askewed.
When I made lots of money I was miserable, because I spent ten-eleven hours a day earning it.
When I made none I was miserable because I had long days to fill and little funding to aid me.
I think the relationship between earning and happiness is a matter of effort versus payoff. I'd say that people who make lots of money with little effort are happier than those who make the same amount with a lot of effort.