Readers of Forbes may wonder, are those billionaires who can afford Feadship yachts, Graff diamonds and Lamborghinis really happier than the rest of us? Individual happiness, of course, is a complex thing. But those of you who are curious about the happiness of populations en masse will want to read a new study by University of Michigan professors Betsey Stevenson and Justin Wolfers.
Relying on worldwide data from Gallup and other sources, Stevenson and Wolfers determine that the wealthier people are, the more satisfied they are with their lives, at least when you look at nationwide figures. They also find, contrary to what many economists believe, that there is not a point of wealth satiation beyond which happiness levels off.
Money Does Buy Happiness, Says New Study.