Wealthy people may be happier. But a new study finds that money can't buy a sense of purpose
“Humans think happiness is this one thing: You’re either happy or you’re not,” Jennifer Aaker says. Of course, it’s not so simple: New research conducted by Aaker and her colleagues not only challenges the assumption that happiness is binary but also finds that the relationship between happiness and our sense of meaning can change depending on our financial situation.
“This is particularly interesting because research has shown when people get wealthier, they experience greater happiness,” explains Aaker, a marketing professor at Stanford Graduate School of Business who has extensively studied happiness, meaning, and money. “But this research suggests that the nature of happiness also shifts based on income.”
This piece originally appeared in Stanford Business Insights from Stanford Graduate School of Business. To receive business ideas and insights from Stanford GSB click here: (To sign up: https://www.gsb.stanford.edu/insights/about/emails)