Money Buys Happiness? New Study Says Think Again about those Assumptions

Conventional wisdom has long held that for people who have the least, money matters much more than it does for people who are better off. With more money – and therefore more social mobility – the poor will find a sense of wellbeing and happiness that the more affluent take for granted. But there is some dissension in the ranks. Economist Arild Angelson believes that this is a dangerously outdated concept.
“It is this idea that if you are poor, what matters is just to fill your belly with food and have shelter and some of the bare necessities covered,” he says. “And that social comparison is something only the rich care about.”