Justin Wolfers on Money and Happiness

University of Pennsylvania economist Justin Wolfers, whose work with Betsey Stevenson I cited in my recent post on why economic growth is a moral imperative, sat down recently to talk with Patrick Bernau of the Frankfurter Allgemeine Zeitung‘s economics and finance blog to discuss his Betsey’s most recent research, including a forthcoming paper.

Their finding that a 10% boost in income gives about the same boost to happiness everywhere and at every point on the income distribution suggests huge potential increases in happiness from economic growth in relatively poor societies.