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  • Essay / Money doesn't buy happiness - 1156

    Since man invented money, the question has been asked: can money buy happiness? Recently, research has given us a better understanding of the relationship between what we earn and how we feel. Economists have studied the links between income and happiness in every country, and psychologists have conducted countless studies to uncover our true feelings about money. Studies consistently show that people who agree with statements such as "You will buy things just because you want them" tend to be less satisfied with life, less happy, and more likely to be depressed. But, just like studies examining the link between success and happiness, many findings are correlational. As a result, we cannot say with certainty that materialism is the cause of all these things, only that they are associated. So for better evidence, follow the experiment. Experiential versus Material Purchases Leaf Van Boven of the University of Colorado and Thomas Gilovich of Cornell University conducted an intriguing experiment that addresses the question of whether materialism leads to less happiness (Van Boven & Gilovich, 2003). They randomly divided the students into two groups and gave each group slightly different instructions: This group was asked to write a description of a material purchase that made them happy. Hardware purchases include clothing, gadgets, computers, etc. It could either be something they bought themselves or something that was bought for them. This group's task was only slightly different. They were asked to write a description of an experiential purchase that gave them pleasure. Examples of experiential purchases are restaurant meals, concert tickets, and travel. To see how they ...... middle of paper ...... that we clearly live in a society flooded with materialism, where objects are valued far beyond their possible contribution to our happiness. So how can this conflict be resolved? One answer to this question is that although we are likely to think of others as materialistic, we defend our own purchases as necessary and, at worst, indulgent. After all, materialism is a dirty word. A swear word that worries everyone.ReferencesSolnick, SJ and Hemenway, D. (1998). Is more always better? A survey of positioning concerns. Journal of Economic Behavior and Organization, 37, 373-383. Van Boven, L. (2005) Experientialism, materialism and the pursuit of happiness. Review of General Psychology, 9, 132-142. Van Boven, L. and Gilovich, T. (2003). To do or to have? That's the question. Journal of Personality and Social Psychology, 85, 1193-1202.