Finally, when it comes to money and happiness, while money may reduce misery and thus cause higher levels of life satisfaction, the reverse relationship that happiness may lead to a ufabet higher income – may also be true.
How much money does happiness buy?
At least, that is what Dr Jan-Emmanuel De Neve and Professor Andrew Oswald have found. Jan-Emmanuel is associate professor of economics and strategy at Said Business School and the University of Oxford – but, more importantly, a nice guy. I met him the first time in the United Arab Emirates at a conference on happiness.
Their happiness level when they are young predicts their income later in life.
The study shows that a one-point increase in happiness on a five-point scale at the age of twenty-two means an income higher by $2,000 seven years later. Positive people seem more likely to get a degree, find a job and be promoted. In addition, the study’s results are robust and include controls such as education, IQ, physical health, height, self-esteem and later happiness.
The implication of this study underlines the importance of the subjective well-being of our kids – and I also understand why Jan Towered his voice when he revealed their findings. The knowledge would be dangerous in the hands of kids. ‘No need to do homework, Dad. Just give me some sweets – otherwise my future earnings may be in jeopardy.
Let’s keep the study ‘Estimating the Influence of Life Satisfaction and Positive Affect on Later Income Using Sibling Fixed-Effects’ to ourselves, shall we?