I've been following a Freakonomics blog series on The Economics of Happiness. Blogger Justin Wolfers explores this topic from multiple perspectives, including whether richer countries are happier than poorer countries (part 2) and whether raising the incomes of all would make everyone happier (part 5). Here are some interesting points made in part 6 of this series, where he jumps more deeply into just what it means to be "happy" and how that relates to a country's GDP:
- Richer countries are less likely to experience physical pain, depression, boredom, and anger, and more likely to eat "tasty food." They also are more likely to report having been treated respectfully and feeling ownership over their time.
- On the flip side, reports of being well-rested and taking pride in recent achievements don't seem to be related to economic development.
- GDP doesn't seem to correlate to how much a country's population worries.
- As it turns out, money can't buy love--it's likely to be experienced in countries all across the GDP map.
As Wolfers points out, the issue of wealth and living conditions as it relates to happiness and life-satisfaction affects all facets of society including economics, psychology, sociology, anthropology, and political science. A few months ago I read about an entertaining study/project where a psychologist produced a "World Map of Happiness." Defining happiness is not an exact science, but as this article explains, the three biggest indicators of national happiness according to a recent survey included (in order of influence) health, wealth, and education. See a list of the 20 happiest nations in the world according to the World Map of Happiness here (the U.S. falls at number 23).
In light of all this discussion on levels of national happiness, writer Eric Weiner decided to spend one year researching the world's happiest places for a book called The Geography of Bliss. Check out this slide show on nine of the places spotlighted from Weiner's year of happy exploring. According to this article, the book reveals a few commonalities between the happy people in Weiner's destinations: family, a sense of community, and a sense of humor. You can read the first chapter of his book online, courtesy of the New York Times.
From all of the current dialogue on the contributing factors to happiness, I think it's clear that having lots of money isn't a first-class ticket to perpetual bliss. However, the ability to stay healthy, get an education, and have a say in the direction of your own life and community are significant factors. The ability to make, manage, and multiply your own money skillfully and conscientiously--whether that's paying for health insurance, taking out a reasonable loan for school, or donating to charity--can definitely help keep the good times rolling. Knowing how to make money work for you helps you avoid troublesome situations so you can focus on what keeps you smiling and satisfied. And for me, that's grabbing another free bagel in the break room courtesy of brass.
Happy Friday!
- Sarah
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