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I think if happiness was a function of money, then it would very much look like the sigmoid / logistic function. You have a linear region where there's a very d
by TrackerFF 7y ago
I think if happiness was a function of money, then it would very much look like the sigmoid / logistic function. You have a linear region where there's a very dramatic relationship between money and happiness (a $100k salary makes life so much easier than a $30k salary), but there's very small difference at the different ends...a $5k salary will not improve your life much over a $500 salary, even though there's an order of a magnitude in difference - just in the same way that $50MM won't make you much happier than $500MM.
And this is something I feel is important, because people tend to compare extremes. It's always poor vs rich
- vastoi 7y agoI agree with your premise on the higher end but a $500 and $5000 salary are dramatically different. You won’t go hungry on 5k if you are frugal while $500 could kill you.
- TrackerFF 7y agoI'd imagine that people in most western countries on either salaries would also receive some kind of welfare benefits to supplement those kinds of low salaries.
- mercutio2 7y agoAll the research I’ve seen basically points at happiness having a fairly straightforward logarithmic relationship to wealth. So it’s not true to say “money doesn’t make you happier”, it just gets you less marginal happiness per increment of income (research on wealth is less clear, but wealth can be converted to an income stream).