There is a bit more nuance to the question of whether income can affect your happiness. It comes down to the difference between emotional well-being and life satisfaction.
Chapter Index
00:00 | Intro
00:25 | Chapter begins
08:26 | Outro
Figures
Figure 1.1: Subjective well-being (SWB), per capita gross domestic product (GDP), and different types of societies – Inglehart, Foa, Peterson, and Welzel (2008)
References
Economic Growth and Subjective Well-Being: Re-Assessing the Easterlin Paradox, Betsey Stevenson and Justin Wolfers, 2008. Brookings Panel on Economic Activity.
http://bpp.wharton.upenn.edu/betseys/papers/Happiness.pdfIncome, Health, and Well-Being around the World: Evidence from the Gallup World Poll, Angus Deaton, 2008. Journal of Economic Perspectives, 22(2). pp. 53-72.
http://www.aeaweb.org/articles.php?doi=10.1257/jep.22.2.53Does Inequality Make Us Unhappy?, Jonah Lehrer, 2011. Wired.
http://www.wired.com/wiredscience/2011/11/does-inequality-make-us-unhappy/The Pursuit of Happiness: An Economy of Well-Being, Carol Graham, 2011. Brookings Institution Press. p. 22.High income improves evaluation of life but not emotional well-being, Daniel Kahneman and Angus Deaton, 2010. Proceedings of the National Academy of Sciences.
http://www.pnas.org/content/107/38/16489.fullAttributions
Chapter Text and comment section: Chapter 14: Income and Happiness | Robots Will Steal Your Job, But That’s OKTheme song: The Freeharmonic Orchestra – RoboHoboAlbum art adapted by: Redd SpinksCopyright
The Robots Will Steal Your Job, But That’s OK Audiobook is released under a Creative Commons — Attribution-NonCommercial-ShareAlike 3.0 Unported license. Feel free to use any or all of it as long as you link back to https://thenexus.tv/rsj14, you do not use it for commercial purposes, and you release any derivative works under the same license.
Listen to more at The Nexus and follow us on Twitter and Google+ for our latest episodes and news.