“Why money doesn’t make us happier”
Please read the article “Why money doesn’t make us happier.” . You need to answer the following questions based on the reading on loose-leaf, only one answer sheet needs to be turned in per a group. Please do not write on this sheet and turn it in when you have finished the assignment.
1. According to Economists does money make individuals happier? Explain.
2. According to Psychologists does money make individuals happier? Explain.
3. In the 3rd paragraph the author states: “According to standard economics, the most important commodity you can buy with additional wealth is choice.” What does she mean by this? Why is possessing the ability to make choices so important?
4. On the scale of 1 to 7, where did the following groups of individuals end up?
a. American Multimillionaires
b. Homeless in Calcutta
c. Inuit of Northern Greenland
d. Cattle Herding Masai of Kenya
e. Slum dwellers in Calcutta
What conclusions can you draw about happiness from these statistics?
5. What reasons did the author give for the meaning of the following quote?
a. "Although economic output has risen steeply over the past decades, there has been no rise in life satisfaction … and there has been a substantial increase in depression and distrust.”
6. If money doesn’t buy happiness, what does?
7. According to the article what does the following quote mean?
a. "Economies can blossom and grow only if people are deluded into believing that the production of wealth will make them happy … Economies thrive when individuals strive, but because individuals will strive only for their own happiness, it is essential that they mistakenly believe that producing and consuming are routes to personal well-being."
8. In conclusion, what is your opinion? Does money buy happiness? Why or why not? Each student should give their opinion on whether or not money buys happiness.
