In 1974, a University of Pennsylvania economist concluded that there was a happiness plateau. Yes, we feel increasingly good as our income grows. But not beyond $75,000. Called the Easterlin Paradox, even if your earnings continue upward, they don’t bring…
Can a sibling’s success add to your self-esteem? It depends. Sometimes you can feel better about yourself when your brother or sister does something fantastic. However, if your self-esteem relates to excelling at whatever your sibling does, then you might…
Behavioral economists might be able to explain our response to income inequality. In a paper on money and happiness, economist Richard Easterlin initially asks the reader how she feels if her income rises. Then he asks how she reacts when…
What happens when everyone knows how much you earn? A Boulder, Colorado firm, has voluntarily decided to let workers check a spreadsheet and see what others take home. One employee said she likes it, even when she discovers someone earns…
The jobs, income and wealth scene is a bit bleak. Unemployment has soared, many workers are earning less, the government owes a ton of money, the stock market has been down, up, and down again, housing prices have plummeted and…
Although the unemployment rate is 9.2% for the entire labor force, it is 4.4% for college grads (and 10% for high school graduates, no college). But which college graduates earn more? It depends on your undergraduate major. Counseling psychology or…
It is possible, after all, that money can make us happy. A recent Brookings paper from 3 University of Pennsylvania researchers concluded that people experience greater “subjective well-being” or life satisfaction when they are more affluent. Comparing rich and poor…
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