Money Can't Buy Happiness

Well, we finally have the answer to the age-old question of whether money can buy happiness. The verdict, according to Professor Mariano Rojas from Mexico’s Facultad Latinoamericana de Ciencias Sociales, is a resounding "no."

Springer Science+Business Media reports that Dr. Rojas's research, published online in Springer’s journal, Applied Research in Quality of Life, found that most people consider their lives "satisfactory" or "more than satisfactory" regardless of their financial resources. Being considered "poor" has little to do with how happy people are with their lives. Other factors such as health, career satisfaction, family relations, friendship and community have significant bearing on people's sense of satisfaction.

Because money is not the bottom line in people's lives, Dr. Rojas concludes, money should not be the only consideration in programs that try to improve people's lives. Therefore, domestic and foreign-aid programs should use something above and beyond simple dollars to measure the good they are doing. They need to focus on factors such as leisure time, educational opportunities and attainment, community engagement and money-management skills.

Dr. Roja writes that "Income is not an end but a means to an end. ... It is important to worry about getting people out of income poverty, but it is more beneficial to also worry about the additional skills people need to have a more satisfying life.”

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