If you've ever wondered how much money it would take to buy happiness, a new study will tell you -- but only in British pounds. (Here's a currency converter for you.)
From a London news story:
Their main source was a survey of 10,000 Britons, who were asked to rate their level of happiness and answer questions on their wealth, health and social relations.
The team, from the University of London, then placed all these people on a "life satisfaction scale" of one (utterly miserable) to seven (euphoric).
Using the information they had collated, they could calculate how much extra money the average person would have to earn every year to move up from one point on the scale to another. ...
Dr Nattavudh Powdthavee, one of the main researchers, said: "One of the things we wanted to find out was the answer to the age-old question - can money buy the greatest amount of happiness for us?"
Dr. Nattavudh Powdthavee is from the Bedford Group for Life Course and Statistical Studies, Institute of Education, University of London. [Dr. Powdthavee's thesis was on "Essays on the Use of Subjective Well-Being Data in Economic Analysis: An Empirical Study Using Developed and Developing Countries Data" (download PDF).]
A quote from Dr. Powdthavee's website: "Unhappiness, on the other hand, is having everyone fallen asleep during one of your talks..." )
I think I could really get to like this guy. He's also the self-proclaimed editor of The Journal of Obvious Results, which says it "publishes articles that have been rejected more times than the author could remember by other peer-reviewed journals on the ground that 'The results are just too obvious'. " He invites submissions.