According to a report by the Institute of Economic Affairs ‘The Pursuit of Happiness’, happiness levels correlate with the amount of wealth a person accumulates.
(It contradicts the widely-held belief that above a certain income level, people do not become any happier, which was put forward in 1974 by wellbeing expert Richard Easterlin, who claimed that happiness stagnates when income rises beyond a certain level. Even Princeton University claimed to have found that wellbeing stopped increasing at £58,700 – with an increase of as much as a third making little difference, but this latest study says this is a ‘myth’ and ‘fake’. It argues a 20 per cent rise in income has the same impact on wellbeing irrespective of how much wealth the person has initially. But it still can’t buy you love.)