Can Money Buy You Well Being?

Does economic status correlate with well being? How do you
define well being? Interesting questions and someone at the
American Psychological Society (sorry, I have no idea who they
are) did a study (summary
here
) on just this subject:

Our thesis is that well-being should become a primary
focus of policymakers, and that its rigorous measurement is a
primary policy imperative. Well-being, which we define as
peoples’ positive evaluations of their lives, includes
positive emotion, engagement, satisfaction, and meaning
(Seligman, 2002). Although economics currently plays a
central role in policy decisions because it is assumed that
money increases well-being, we propose that well-being needs
to be assessed more directly, because there are distressingly
large, measurable slippages between economic indicators and
well-being.

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