The Experiential Economy:
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The Experiential Economy
Good Beta, Winter 2011

Category: Digital Media, Psychology

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

16 Responses to “Can Money Buy Happiness?”

  1. MaxMax says:

    The ties in with Mazlow’s need hierarchy. Existence, relatedness, and growth. You can’t buy relatedness or growth, you can only do it.

  2. gstream says:

    According to Jack Donaghy, money *is* happiness.

  3. pekoe says:

    Besides the difficulty of measuring satisfaction vs depression, the differences between the means is not so great and no error bars! My guess is that the error is such population measurements is so large that while statistical significance might be obtained that predictive value is worthless. For example, while major depression is associated with affluence does that mean that winners of the lottery become depressed? On second thought, yeah, maybe they do… …could I participate in that study, just to be sure?

  4. tagyoureit says:

    No amount of money can completely eliminate human suffering or prevent death.

  5. dsawy says:

    “While money can’t buy happiness, it certainly lets you choose your own form of misery.” – Marx

    That’s Groucho, BTW.

  6. Expat says:

    I am willing to make a sacrifice in the name of science and perform an experiment. If all of you, especially Barry, will send me all your money for one year, I will keep a detailed journal on what I do and how I feel. You can keep your own journals (if you can afford one after giving me all your money). After one year we can compare notes.

    Or, we could simply call up Goldman and ask them. Anyone got a quarter for the phone call?

  7. eliz says:

    “There is no way to happiness, happiness is the way.”

    — attributed to both Thich Nhat Hanh and Wayne Dyer (don’t know which is correct)

  8. Julia Chestnut says:

    Here’s the thing, though: people with the ability to buy experiential wealth have not only money — but TIME. That connotes both a larger degree of control over the circumstances of their lives, highly correlated with “happiness” and most all measures of satisfaction, and that they aren’t slaving 24/7 at their jobs, which suggests a better life/work balance that would underpin more satisfaction. How many highly driven, highly compensated people do you know who don’t even take their vacation time?

    Based on that, and the difficulty of shaking that variable out of the correlation, I’d say that it isn’t so much the buying experiences that makes people happier, it’s the incredible freedom innate in having both money AND time that likely makes such people giddy. I mean damn, if I had money and time, I’d be pretty saucy about life myself.

  9. Bob A says:

    I don’t know if “money is happiness”

    but I’m pretty sure that “no money is unhappiness”

  10. victor says:

    You cannot buy happiness with money but you can surely rent it.

  11. ssc says:

    “I’ve been rich and miserable and I’ve been poor and miserable. Trust me, rich and miserable is a lot better” – Mae West.

    “If money isn’t everything, how come everything costs money?” – Benny Hill

  12. formerlawyer says:

    “A witty saying proves nothing.” – Voltaire

  13. BusSchDean says:

    Julia…well said. To even ask the question makes no sense. In a causal model, even if the correlation between money and happiness is positive the R-squared would be low if that was the only independent variable. To suggest that money is even the primary source of happiness is ridiculously simplistic. And we should be all glad of that. Imagine a world where literally everyone otherwise. Imagine the violence, the insincerity, the lack of caring for others, the wrecked homes and communities — all for money? To your point about time — money can give a person the time to, perhaps coach a little league baseball or soccer team. But I bet most people who coach these youth teams do not have a lot of money and most people who do have a lot of money do not engage in such activities even if they could. The balance in how one uses one’s time tell more about happiness.

  14. Francisco Bandres de Abarca says:

    One can certainly borrow wit and intelligence with a quotation.

  15. louiswi says:

    For those who are deep thinkers, money is like fire. Used wisely in the proper hands, it can be hugely beneficial. Used carelessly and unwise, it will leave a path of destruction and misery the likes of which would be difficult to equal.
    For those of us who tend to be shallow; if money is capable of buying the Girl Friend Experience for you, then money should be the catylist for total happiness.

  16. ToNYC says:

    When Money gets in the way of one simply getting over themselves, over the rainbow to Satisfaction ; it’s like iron filings of on the magnet of one’s soul.
    The girlfriend experience? I dream of Giselle ironing Tom’s underwear.