3 ms·

Will making more money make you happier, and if so, how much?

• nanis 11y ago
  Of course, the analysis is nonsense. More money will make you happier. However, when people look at these observational data sets, they fail to take into account that more money is usually correlated with more effort or more opportunity cost. As a side note, the appeals to cardinal utility and interpersonal utility comparisons set us back by more than a century and are embarrassing.
  • robertwiblin 11y ago
    "more money is usually correlated with more effort or more opportunity cost." Both of these are discussed. I think it's the failure to do interpersonal utility comparisons that were a huge ridiculous diversion in economics and I'm glad that mistake is falling out of fashion in favour of pragmatism.
    • nanis 11y ago
      Not discussed, glossed over. The whole thing reads like Chelsea Clinton's "I tried to care about money, but I just couldn't."
• maerF0x0 11y ago
  Tldr; > "We think the message is clear: if you want a satisfying career, once you’re earning above about $40,000, don’t focus on earning more money. " I object that it clearly wouldnt work for expensive cities where rent is nearly equivalent to $40k pretax.
• stegosaurus 11y ago
  Some people don't need more money. We call this 'wealth', as distinct from 'income'. If you're focusing on income you're probably doing something wrong.