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One More Time, Does Money Buy Happiness?

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  • James Fisher

    (Saint Louis University)

  • Michael Frechette

    (Sacred Heart University)

Abstract

This paper integrates multiple positions on the relationship between money and well-being, commonly referred to as happiness. An aggregation of prior work appears to suggest that money does buy happiness, but not directly. Although many personal and situational characteristics do influence the relationship between money and happiness, most are moderating factors, which would not necessarily rule out a direct link. Here, we discuss the cognitive and affective elements within the formation of happiness, which we propose play a series of mediating roles, first cognition, then affect, between money and happiness. The paper concludes with a discussion about how this proposal influences academic research and society as a whole.

Suggested Citation

  • James Fisher & Michael Frechette, 2023. "One More Time, Does Money Buy Happiness?," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 18(6), pages 3089-3110, December.
    • Handle: RePEc:spr:ariqol:v:18:y:2023:i:6:d:10.1007_s11482-023-10221-9
    DOI: 10.1007/s11482-023-10221-9
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    References listed on IDEAS

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