The theme of money and happiness keeps coming up; I wrote about it last in April when the UN World Happiness Report came out. Yesterday I read a New York Times article in Canada’s National Post: Don’t indulge. Be happy. (http://www.nytimes.com/2012/07/08/opinion/sunday/dont-indulge-be-happy.html?_r=2&pagewanted=all)
The authors, University of British Columbia psychology professor Elizabeth Dunn and Harvard Business School marketing professor Michael Norton make essentially the same argument as the UN World Happiness Report: that there is an upper limit of income after which additional money will not make us happier—but giving it away to others will. But unlike the UN report, Dunn and Norton suggest a specific upper limit we should impose on our annual income we can keep to ourselves to optimize our happiness—about $75,000. They argue that any income beyond that should be used for “buying for others”—allegedly because that would optimize our happiness. They base this number on a…
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Right From Yaad 