Think about what would make you really, really happy. More money Wrong. Smiling, well-adjusted kids Wrong again. The fact is we are terrible at predicting the source of joy. And whatever choices we do make, we likely later decide it was all for the best.
These are insights from happiness economics, perhaps the hottest field in what used to be called the dismal science. Happiness is everywhere--on the best-seller lists, in the minds of policymakers, and front and center for economists--yet it remains elusive. The golden role of economics has always been that well-being is a simple function of income. That’s why nations and people alike strive for higher incomes-money gives us choice and a measure of freedom. After a certain income can, we simply don’t get any happier. And it isn’t what we have, but whether we have more than our neighbor, that really matters. So the news last week that in 2006 top hedge-fund managers took home $ 240 million, minimum, proba
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