To continue along the lines of the previous few days, I recently watched this TED (Technology, Entertainment, Design) talk by Daniel Kahneman. Kahneman won a Nobel prize in 2002 for Economics and is credited as the founder of behavioral economics. The talk is about what makes us happy – or what we think makes us happy. Interesting stuff, but the really interesting bit is at the end. Fast forward to minute 17 where he is asked whether money brings happiness.
It turns out that the science is unequivocal. Yes, money does bring happiness. But the science goes further than that. As your income rises – up to 60,000 American dollars per year, you get happier and happier. After that, you’re flatlining. More than 60k dollars doesn’t bring you any more happiness.
So how about employing someone else, and sharing the happiness instead?