Money actually can buy happiness, study finds

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Money actually can buy happiness, study finds
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As the income gap has grown, the money-happiness link has strengthened.

used data from the General Social Survey, one of the longest-running nationally representative surveys of U.S. adults, with 44,198 participants between 1972 and 2016.

It found a growing class divide in happiness, with the happiness of whites with no college education steadily declining since 1972, while the happiness of whites with college education stayed steady.For African Americans, the results were different but still reflected a rising money-happiness correlation: Happiness levels of blacks with no college education has stayed steady since 1972, while the happiness of blacks with college education has increased.

Adults who were in the top decile of inflation-adjusted household income were 5 percent more likely to say they were “very happy” than people in the ninth decile. The new study found no evidence that happiness tapers off after a certain income point, though it did not study incomes within the top decile to see if the happiness-income correlation continued to rise for those earning over $108,410.

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