Economists Nail It: You Can Never Be Too Rich

I just spoke with Justin Wolfers, co-author of a short but important new paper that concludes the more money you have, on average, the happier you are. That may seem to deserve a Homer Simpson “Duh!” award for most obvious research finding of the month, but in fact it contradicts an assertion made in 1974 by Richard Easterlin, who said that increasing average income did not increase average well-being.