Wealthiness is next to Godliness

And perhaps money does make you happier, or at least more than previous data indicated.  Derek Thompson does his usual thing for the Atlantic  which is to actually read those complicated studies that come out, and not only read them but try and convey their meanings, complexity and all, to the reader.  And with as minimal translation costs as needed.

It's a admirable goal, and one wonks everywhere no doubt appreciate, but I don't imagine he hears warm reviews from members of the Liberal Elite at their Liberal Elite Cocktail Parties - so much as blank stares.  But good can be good for goodness sake, right?

Anyway the gist of Thompson's analysis is that 

"According to the modern godfather of income and well-being research, Richard Easterlin, it is better to be rich than poor, but rich countries don't get any happier as they got richer. They hit a happiness ceiling, essentially. This idea matters a great deal, because in a world where only relative income matters, there might be less need to care about growth or pursue policies that maximized lower-income families' post-tax incomes. The work by Sacks, Stevenson, and Wolfers suggests Easterlin was simply wrong. Absolute income matters absolutely, and voters, economists, and policy-makers have everything to gain by putting the spotlight on income gains for the average family."

It seems there is an exception in that most exceptional of countries; the USA.  The authors of the study (who are Sacks, Stevenson and Wolfers, if we are to take Thompson at his word, the sneaky devil), explain this as partly a result of our income equality, and partly because of single-family households; whatever that means.   My guess at a translation would be that Americans don't really share a sense of community beyond the right-in-front-of-us stuff.  Or perhaps we play too many video games?  No, that doesn't seem to be the case...

So all this comes down to an interesting set of propositions: 

1. Making money makes humans happier, to a point
2. A few Americans make more money than God; everyone else can suck it

I hope you'll find my cynicism understandable.  

But the most important part of Derek's entire post is easily lost in all the facts; notice this in his 5th point (latter emphasis mine):

"(5) Europe's lesson: A steadily rising level of satisfaction from a steadily rising level of income. The graphs below are a bit more pointilist and messy, but they make a similarly compelling point. The Eurobarometer survey, which has measured life satisfaction across the continent since 1973, clearly shows that in eight of the nine countries for which the researchers have the most data, well-being has increased through time with economic growth. Except for Belgium. You're weird, Belgium."

Belgium, you are wierd.