Who says money can’t buy happiness?

British economist Richard Layard argues, “Earning more money, Layard argues, won’t make us happy because most of us are interested in relative wealth rather than absolute wealth.” But Johan Norberg retorts…
Another reason these societies are so happy is wealthier societies allow individuals more freedom to choose their own lifestyle. As time passes, we get increasingly better at choosing to live and work in ways we like. For some, that may mean decreasing the amount of work they do. If you don’t think you get happier by hard work and mobility, just skip it! A recent survey showed that 48% of Americans had, in the last five years, reduced their working hours, declined promotion, lowered their material expectations or moved to a quieter place. That’s fine.
But if happiness studies are used to put forth an anti-capitalist agenda, it will only reduce freedom of choice for all of us and, therefore, reduce our ability to make decisions that satisfy us.
Despite Layard’s criticism of individualism and materialism, even he admits that “we in the West are probably happier than any previous society.” Shouldn’t he examine why before he and his followers start undermining this society?




