Money as it Relates to Happiness


A short paper I wrote for my Psychology of Consumerism class:

Money is the ultimate resource, we, as humans, can possess. It is the one resource that is universally understood, and can be exchanged for any other resource. So, then, it is without question that money begets power. In our modern world money acts as a signal to our prosperity, prestige, and perhaps our social worth, but beyond this construct there still remains the question of our happiness. Regardless of all its awesome power, the mere possession of money cannot create happiness. Michael Norton considered this primordial debate in “TED Talks: How to Buy Happiness,” and found that the true value of money lies not in having it, but in the way one spends it. Norton argues that spending money on others correlates more closely to a positive emotional tone, while spending money on one’s self relates only weakly to…

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