Money Can Buy Happiness*

These two articles caught my attention recently. The first I first heard discussed on NPR; here is a blurb in Scientific America. Basically researchers found that “money can buy happiness” only on one condition–if you give it away. The second was the NY Times op ed piece about the modern do-gooder, namely the social entrepreneur, which referenced my employer, Ashoka, to start the conversation. Now I’ll go on a couple tangents–

Some may hear that first finding and think that they should go chasing after money with the intention of giving it away after they’ve accumulated it but I think that is a faulty and dangerous interpretation. (This happens to be a view I believe is quite common in my own cultural community, particularly along the Watsatch Front). Although the intent-to-do-good motive is the only justifiable reason for pursuing wealth, doing so in the mode of pursuing wealth now with the intent to give later is dangerous. If you cannot give when you have little then I will predict, and the data supports it, you will not give as readily if you do become wealthy. As wealth accumulates so do appetites and the ability to consume.

It is interesting that the study was conducted giving $5 and $20 donations, which is a small price for happiness and very much in the budget of every individual especially if it is truly a sacrifice and not just a skim off the excess.

Perhaps psychiatrists should consider prescribing gift cards to Global Giving instead of packets of pills.

Could giving be somehow measured into the GNH Gross National Happiness.
Now that you want to give away your money, who should you give it to?

I think there is a strong argument for the answer being found in the second article.