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Papers of the Day: Money and Methods

Started by Will Wilkinson · 9 months ago

Money Does Matter! Evidence from Increasing Real Incomes and Life Satisfaction in East Germany Following Reunification by Paul Frijters, John P. Haisken-DeNew and Michael A. Shields, American Economic Review, Vol. 94, No. 3, June 2004
ABSTRACT. In this paper we investigate how life sat ... Continue reading »

2 comments

  • Would you rather live in a world in which money (above a certain level) mattered or didn't matter? I think I'd rather live in a world where the important things don't cost money. Of course. Why does this get you excited?
  • I noted something on the happiness argument.

    While on low incomes, and living overseas, I determindly made my husband and myself saving money. Despite being married to an IT geek who adores new expensive toys.

    This meant that when a family member had a sudden health emergency we could quit our jobs and return home to be with him.

    If you had measured my happiness, the money would have seemed to have no effect. The effort of saving caused some unhappiness, and we were both definitely very unhappy about the health emergency.

    It was still very good to have the savings and I am determindly building them back up again.

    Measured happiness isn't everything.

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