Article text: https://www.reddit.com/r/Economics/comments/1fvxrxl/comment/lqafn5t/ https://www.reddit.com/r/Economics/comments/1fvxrxl/comment/... Source paper

Article text: https://www.reddit.com/r/Economics/comments/1fvxrxl/comment/lqafn5t/ https://www.reddit.com/r/Economics/comments/1fvxrxl/comment/... Source paper: https://www.pnas.org/doi/abs/10.1073/pnas.2016976118 https://www.pnas.org/doi/abs/10.1073/pnas.2016976118 Key quote: "Drawing on 1,725,994 experience-sampling reports from 33,391 employed US adults, the present results show that both experienced and evaluative well-being increased linearly with log(income)" Personal opinion: The title is slightly incorrect. Money doesn't directly buy happiness. Instead, money buys freedom, and freedom can be invested & converted into happiness. E.g, having a sufficient amount of savings (also known as "Fuck You Money") allows a person to leave a bad situation (job, location, partner, etc) and find a better one that makes them happier. Money doesn't directly buy long term happiness if it's splurged on random short-term dopamine hits like a fancy car or ephemeral social status. This is a key tenet of the FI/RE movement and one of the reasons for UBI. Source: I watched many people at FAANGs spend their $500k+ salaries on random short term things and never manage to find long term happiness or escape the rat race.