TagsCatherine Feliciano-Chon, charity, happiness, ideas, money, sharing ideas, society, TED
For Harvard business professor Michael Norton, it is a ‘yes’, when we do not spend it on ourselves.
In the recent TEDxCambridge,
Norton comments on the notion ‘Can Money Buy Happiness’, supported by interesting research findings. The one single conclusion is – when people are pro-social with their money, they are happier.
The take away –
Comparisons – Doing good things in trivial ways does not make one less happier, while spending on someone you know or making a donation yields the same level of happiness.
Happiness Index – In 136 countries across the world (Africa inclusive), people rate their wellbeing higher when giving money to charity instead of keeping it.
Return on Investment – return on Investment of €15 is as low as €4.5 if one spends money on personal incentives because it does not motivate them to perform better; however it goes up to €78 if the money is spend on pro-social incentives.
So money can, indeed buy happiness.
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