The business section of the Sunday (July 7, 2012) New York Times had an interesting article entitled “Don’t Indulge. Be Happy.” by Elizabeth Dunn and Michael Norton. Ms. Dunn is an associate professor of psychology at the University of British Columbia while Mr. Norton is an associate professor of business administration at Harvard Business School.
Their article asks a simple question, “how much money do you need to be happy?” The answer is not as much as one thinks. While we have all heard the adage that “money cannot buy happiness”, these authors have discovered that there is a measurable connection between income and happiness . . . up to a point:
The catch is that additional income doesn’t buy us any additional happiness . . . once we reach that comfortable standard. The magic number that defines this “comfortable standard” varies . . ., but in the United States, it seems to fall around $75,000 . . . .
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