It looks as if you can buy happiness, after all.
At least, in limited amounts, and up to a point.
Pew notes that Israel, the U.S., Germany and the U.K. have the happiest populations among advanced economies. This can be seen in the chart below:
It should come as no surprise that in the emerging-market countries, rising income tends to be associated with substantial increases in life satisfaction. Some of the biggest gains in self-perceived life satisfaction occurred in Indonesia, China, Pakistan, Malaysia and perhaps most surprisingly, Russia.
Overall, the correlation between increasing income and happiness isn’t especially surprising to psychologists and economists who study the field. Continues here