Thursday, February 14, 2013

Economy

Money is not capital, but it can buy happiness.
"Broadly speaking, the data now indicate that as people get richer, they report getting happier too. Though it's not quite that simple. 
Justin Wolfers, an economist at the University of Michigan who helps advise the U.S. government on happiness statistics, told me that poor people in poor countries are not unhappy simply because they don't have wads of cash. They are more likely to have fewer choices, more children who die in childbirth and other grave problems. And while wealthier nations are generally happier, there is no evidence, Wolfers says, that an artist would be happier if she became a hedge-fund trader."
Money, happiness, not capital.

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