A new study suggests that money actually does buy happiness

Call in the quacks! The shrink. The counselor. Get the voodoo man on the line. The Rogue Economist is going soft and mushy… analyzing his own feelings and motivations… his own relationship with money.

It begins with a note from a dear reader:

 

“What a pile of garbage. There is no correlation between happiness and money. None.”

 

Oh yeah?

Half the world works just to survive. But the other half works to get ahead. It aims to get richer. Why so much effort if there is no connection – none at all – to happiness?

And why are so many people investing their money, if not in the hope that it will be fructified… making them wealthier?

On Thursday, neither the Dow nor the price of gold budged. You can interpret that any way you want. There was no follow through on Wednesday’s big drop in stock prices. But there was no rebound either. Mr. Market, are you listening? We await further instructions [Mr. Market delivered instruction on Friday, ed.].

 

prozac instead of a raiseA new study suggests that money actually does buy happiness (there’s a study for everything …)

More Money, More Honey?

Meanwhile, we have been making the case that the link between money and happiness isn’t as straight and sure as: More Money = More Happiness. And it can be the other way around: More Money = Less Happiness.

There are three key decisions you make in life; having money doesn’t keep you from botching them up. In fact, money can make the wrong choice more readily available to you. Neither high-toned hookers nor highly paid stock brokers make their calls in poor neighborhoods.

We grew up poor … but not unhappy. We took from our childhood that happiness was independent of wealth. We drew our happiness from the home and the family. vAnd with this base of our contentment secure, we could go out into the world and face whatever challenges and hardships might come our way… confident that no matter what happened, our happiness was safe at home.

We began this series with an insight: If you want to get rich, you had better learn to like poverty first. A man who measures his worth in material success may not be able to bear the risk of failure. In our case, we were largely indifferent to it. Money didn’t really matter much. So we could afford to take chances.

After law school, instead of taking the safe route – billing clients for nasty divorces or slick tax schemes – we started a business.

 

happiness

 

The Only Sure Route to Success

No matter what you do, it is hard to put your hands on serious money. When you come of age, someone else already owns all of the money in the world. Its custodians and guardians will not turn it over to you readily.

Starting out, you won’t know what you have to do to make your business succeed. Most likely your business will fail; you don’t want to take it too hard. Instead, you want to take advantage of it. Since you can’t know in advance what will succeed, eliminating failures is the only sure route to success.

The challenge is to fail early and often enough so you still have your nerve and your wits when you finally stumble onto something that works. Even if you are able to separate yourself (again in a deep, emotional way) from material success, it still plays a role in your life. As we explained in this series, we want more wealth for a reason, even if we don’t know what the reason is.

When we undertake to get it we get a sense of satisfaction and delight when we succeed. It is not necessarily the money that satisfies us though; it may just be like the satisfaction you get from choosing the fastest line at the checkout counter… or cutting someone off in traffic.

Life is competitive. We want to win. And money is one way of keeping score. The typical man has a job where he is told, more or less, what to do. He may earn a high salary or a low one. He may like what he does. Or he may suffer it, as he suffers a tax audit or a colonoscopy. But it will probably not get him any serious wealth or satisfaction.

You do not get either by going along with the flow. You get it by disrupting it. Like disruptive technology, you must change the way money is earned… and spent… altering the capital landscape of the planet. If you are to get more, relatively, others must have less.

This gives the competitive moneymaker a deep sense of reward even before he is successful. He is not necessarily the richest of men, but he is probably among the happiest. Beethoven referred to him as the “free artist.” He does what he likes with no overseer laying the lash on his back and no Wall Street banker holding a million-dollar bonus in his face.

He would do his work even if it didn’t pay. For he is a builder remaking the world… not in his own image exactly, but at least with his fingerprints on it.

 

fingerprint

This fingerprint was left by an architect in Thailand …

(Photo via graaam.com, author unknown)

 

The above article is from Diary of a Rogue Economist originally written for Bonner & Partners. Bill Bonner founded Agora, Inc in 1978. It has since grown into one of the largest independent newsletter publishing companies in the world. He has also written three New York Times bestselling books, Financial Reckoning Day, Empire of Debt and Mobs, Messiahs and Markets.

 
 

Emigrate While You Can... Learn More

 
 

 
 

Dear Readers!

You may have noticed that our so-called “semiannual” funding drive, which started sometime in the summer if memory serves, has seamlessly segued into the winter. In fact, the year is almost over! We assure you this is not merely evidence of our chutzpa; rather, it is indicative of the fact that ad income still needs to be supplemented in order to support upkeep of the site. Naturally, the traditional benefits that can be spontaneously triggered by donations to this site remain operative regardless of the season - ranging from a boost to general well-being/happiness (inter alia featuring improved sleep & appetite), children including you in their songs, up to the likely allotment of privileges in the afterlife, etc., etc., but the Christmas season is probably an especially propitious time to cross our palms with silver. A special thank you to all readers who have already chipped in, your generosity is greatly appreciated. Regardless of that, we are honored by everybody's readership and hope we have managed to add a little value to your life.

   

Bitcoin address: 1DRkVzUmkGaz9xAP81us86zzxh5VMEhNke

   
 

Your comment:

You must be logged in to post a comment.

Most read in the last 20 days:

  • What Do “Think Tanks” Think About?
      “Russiagate” WEST RIVER, MARYLAND – We’re back at our post – watching... reading... trying to connect the dots. And we begin by asking: What do “think tanks” think about? The answer in a minute. First, there is a dust-up in the Washington, D.C., area. “Russiagate,” it is called. As near as we can make out, some people think the Trump team had or has illegal or inappropriate contacts with the Russian government.   It's all very obvious, if one looks...
  • Parabolic Coin
      The Crypto-Bubble - A Speculator's Dream in Cyberspace When writing an article about the recent move in bitcoin, one should probably not begin by preparing the chart images. Chances are one will have to do it all over again. It is a bit like ordering a cup of coffee in Weimar Germany in early November 1923. One had to pay for it right away, as a cup costing one wheelbarrow of Reichsmark may well end up costing two wheelbarrows of Reichsmark half an hour later. These days the question is...
  • Quantitative Easing Explained
      [Ed. note: This article was originally posted in November of 2010 - we have decided to republish it with updated charts, as it has proved to be very useful as a reference - the mechanics of QE are less well understood than they should be, and this article explains them in detail.]   Printing Money We have noticed that lately, numerous attempts have been made to explain the mechanics of quantitative easing.  They range from the truly funny as in this by now 'viral' You Tube...
  • The Three Headed Debt Monster That’s Going to Ravage the Economy
      Mass Infusions of New Credit   “The bank is something more than men, I tell you.  It’s the monster.  Men made it, but they can’t control it.” – John Steinbeck, The Grapes of Wrath   Something strange and somewhat senseless happened this week. On Tuesday, the price of gold jumped over $13 per ounce.  This, in itself, is nothing too remarkable.  However, at precisely the same time gold was jumping, the yield on the 10-Year Treasury note was slip sliding down...
  • Jayant Bhandari on Gold, Submerging Markets and Arbitrage
      Maurice Jackson Interviews Jayant Bhandari We are happy to present another interview conducted by Maurice Jackson of Proven and Probable with our friend and frequent contributor Jayant Bhandari, a specialist on gold mining investment, the world's most outspoken emerging market contrarian, host of the highly regarded annual Capitalism and Morality conference in London and consultant to institutional investors.   As soon as Jayant touches down in London, he is accosted by...
  • Monetary Madness and Rabbit Consumption
      Down the Rabbit Hole “The hurrier I go, the behinder I get,” is oft attributed to the White Rabbit from Lewis Carroll’s, Alice in Wonderland.  Where this axiom appears within the text of the story is a mystery.  But we suspect the White Rabbit must utter it about the time Alice follows him down the rabbit hole.   Pick a rabbit to follow...   No doubt, today’s wage earner knows what it means to work harder, faster, and better, while slip sliding behind. ...
  • Central Banks – Tiptoeing Toward the Exit
      Frisky Fed Hike-o-Matic We haven't commented on central bank policy for a while, mainly because it threatened to become repetitive; there just didn't seem anything new to say. Things have recently changed a bit though. A little over a week ago we received an email from Brian Dowd of Focus Economics, who asked if we would care to comment on the efforts by the Fed and the ECB to exit unconventional monetary policy and whether they could do so without triggering upheaval in the markets and...
  • The Anatomy of Brown’s Gold Bottom – Precious Metals Supply and Demand
      The Socialist Politician-Bureaucrat with the Worst Timing Ever As most in the gold community know, the UK Chancellor of the Exchequer Gordon Brown announced on 7 May, 1999 that HM Treasury planned to sell gold. The dollar began to rise, from about 110mg gold to 120mg on 6 July, the day of the first sale. This translates into dollarish as: gold went down, from $282 to $258. It makes sense, as the UK was selling a lot of gold... or does it?   Former UK chancellor of the...
  • The Valium Era
      Don’t Be Fooled by These Calm Markets What is happening in the world of money? Well - the most striking thing is: nothing. It doesn’t seem to matter what happens. Dysfunction in Washington. Meltdown of the techs. No matter how rough the seas get, the markets glide along... scarcely noticing the storm-tossed waves below.   Thankfully the world's central planners are so well-versed in egging on the creation of an ever greater mountain of debt and seemingly limitless asset...
  • Is Trump a Modern Caesar?
      Putting on the Purple   Mayor: Drebin, I don’t want any more trouble like you had last year on the South Side. Understand? That’s my policy. Drebin: Yes. Well, when I see five weirdos dressed in togas stabbing a guy in the middle of the park in full view of 100 people, I shoot the bastards. That’s my policy. Mayor: That was a Shakespeare in the Park production of Julius Caesar, you moron! You killed five actors! Good ones. – The Naked Gun   Laura Loomer,...
  • The Fed Rate Hike and Gold – Precious Metals Supply and Demand
      Shrinking the Balance Sheet? The big news last week came from the Fed, which announced two things. One, it hiked the Fed Funds rate another 25 basis points. The target is now 1.00 to 1.25%, and there will be further increases this year. Two, the Fed plans to reduce its balance sheet, its portfolio of bonds.   Assets held by Federal Reserve banks and commercial bank reserves maintained with the Fed – note that while asset purchases and bank reserve creation are connected,...
  • How to Discover Unknown Market Anomalies
      Seasonax Event Studies As our readers are aware by now, investment and trading decisions can be optimized with the help of statistics. After all, market anomalies that have occurred regularly in the past often tend to occur in the future as well. One of the most interesting and effective opportunities to increase profits while minimizing risks at the same time is offered by the event studies section of the Seasonax app.   A recent event that had quite an impact on certain...

Support Acting Man

Austrian Theory and Investment

Own physical gold and silver outside a bank

Archive

j9TJzzN

350x200

Realtime Charts

 

Gold in USD:

[Most Recent Quotes from www.kitco.com]

 


 

Gold in EUR:

[Most Recent Quotes from www.kitco.com]

 


 

Silver in USD:

[Most Recent Quotes from www.kitco.com]

 


 

Platinum in USD:

[Most Recent Quotes from www.kitco.com]

 


 

USD - Index:

[Most Recent USD from www.kitco.com]

 

THE GOLD CARTEL: Government Intervention on Gold, the Mega Bubble in Paper and What This Means for Your Future

 
Buy Silver Now!
 
Buy Gold Now!
 

Oilprice.com