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Money Does Not Equal Happiness

(Dr. Brian McDonough) Dr. Brian McDonough
Dr. Brian McDonough has been medical editor at KYW Newsradio for more...
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PHILADELPHIA (CBS) – So, you think if you make more money you’re going to be happier right? Actually, according to a new study in the Proceedings of the National Academy of Sciences, this is not true. Happiness does not necessarily increase as income rises. This was a study that looked at economic growth and happiness throughout the world. It was a 22-year study in 37 countries.

Several countries had per capita income that doubled in less than 20 years. People in several of them including China and South Korea and Chile responded to surveys by saying they were not as happy with their lives as they were prior to the income increase.

The scientists of the study do not try to explain why it happens but psychologists have said that the increase in income may negatively affect family and social relationships which can lead to the lack of happiness.

During this holiday season it tends to reinforce the idea that giving may very well be more rewarding than receiving.

Reported By Dr. Brian McDonough, KYW Newsradio Medical Editor

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