One More Time, Does Money Buy Happiness?

James Fisher and Michael Frechette ()
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James Fisher: Saint Louis University
Michael Frechette: Sacred Heart University

Applied Research in Quality of Life, 2023, vol. 18, issue 6, No 11, 3089-3110

Abstract: Abstract This paper integrates multiple positions on the relationship between money and well-being, commonly referred to as happiness. An aggregation of prior work appears to suggest that money does buy happiness, but not directly. Although many personal and situational characteristics do influence the relationship between money and happiness, most are moderating factors, which would not necessarily rule out a direct link. Here, we discuss the cognitive and affective elements within the formation of happiness, which we propose play a series of mediating roles, first cognition, then affect, between money and happiness. The paper concludes with a discussion about how this proposal influences academic research and society as a whole.

Keywords: Happiness; Income; Subjective well-being (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s11482-023-10221-9

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