Are we sure it's wealth that makes them happy or the ability (or willingness) to utilize said wealth? There's something to be said of old-money vs. new-money wh

Are we sure it's wealth that makes them happy or the ability (or willingness) to utilize said wealth? There's something to be said of old-money vs. new-money where often, new-money is self-made and tends to be spendthrift whereas old-money tends to be more cautious (probably the reason they're "old"). There's still a huge difference between "spending" and "buying". Did those economists make a distinction? I haven't seen many people "buy" (as in product or service) into happiness, but some folks seem to become happy by spending. I.E. Parties, charity or some combination of both.