According to money, happiness also increases at the level of emotion. (Photo credited: Bloomberg)
Claims made in a research paper in America, analyzing money and happiness on Americans with an app for iPhone in research
- Last Updated:January 27, 2021 11:26 AM IS
Justin Fox of Bloomberg has published a report. Fox has cited various studies that say that buying happiness with money is an old belief. According to modern research, those who have a lot of money, have a good experience of buying happiness with money.
Since modern research based on public opinion, many experts are trying to test this theory with different results. Some say that happiness can have different aspects. Accordingly, the result of buying happiness with money can be derived. In 2010, the Nobel Prize winning psychologist Daniel Kahnemann in economics and economist Angus Dieton steadied the Gallup survey in a well-known research paper. He points out that Americans’ level of satisfaction in their lives comes from a fixed income. In the year 2010, their annual income of 75 thousand dollars is happiness and satisfaction for them. If we look at it today, this amount will be $ 90,000.
While Kahnemann and Dieton were doing this research, a doctoral student of psychology at Harvard and a former software product manager, Matthew Killingsworth, were also developing money-measuring mathematics. He developed an app called Track Your Happiness on the iPhone. This app used to ask random user for feedback and monitor their movements and feelings. By this, research started in 2010 told that the more disorientation in the mind, the more sad the mind is. Killingworth then worked through this app to measure the link between happiness and income. Its findings have been published in Proceedings of the National Academy of Sciences. According to this, the relation of money is very strong for life satisfaction. It is not limited to 75 thousand or 90 thousand dollars. Rather, money is bought by those who have immense wealth.That’s why research
In the year 1974, famous economist Richard Easterlin had found in one of his research that if the national income per capita is too high in a country, then happiness cannot be brought from it. Much debate followed later to investigate their findings. In fact, after their research, people in developed countries were paying less money. This led to a decline in the life indices with national income. Not only this, people were gradually going into depression due to this situation.
Hence the reliability of this study more
Killingsworth used his app on 33,391 employed Americans and collected 17,25,994 samples from it. In the year 2019, the US average household income was $ 68,703, but Killingworth included an average of $ 85,000 in the survey, so that money can be used to buy happiness on high income people.