One of economists’ favorite, eternal debates is whether money brings happiness. And this week, Thierry Malleret sums up new research from the Office of National Statistics (UK) that concludes that (despite the common wisdom otherwise) it, in fact, does. Up to a point, because not all types of “money” lead to happiness. Read more to find out which types of wealth are most strongly associated with personal wellbeing—and how that shiny sports car isn’t one of them.
“Young Europeans may die at earlier age than their grandparents, says WHO” – The Guardian, September 23, 2015. For all the excitement about the wellness trend, a recent WHO report indicates that young European people may die at an earlier age than their grandparents if the region fails to curb smoking, drinking and obesity. Different mitigating measures are envisaged, but the pressure for a sugar tax is mounting.
“The Research Is Clear: Long Hours Backfire for People and for Companies” – Harvard Business Review, August 19, 2015
The bottom line: The “overwork story” is one of diminishing returns—keep overworking, and you’ll progressively work less well on tasks that are increasingly meaningless. There’s a large body of research suggesting that regardless of our reasons for working long hours, overwork does not help us. Not only does it not seem to result in more output, but considerable evidence shows that overwork harms both employees and the companies they work for.
“The influence of the field of ‘happiness economics’ is growing. Many corporations now employ ‘chief happiness officers,’ and mood-tracking personal devices are gaining in popularity. But some say quantifying happiness only leads to anxiety, as individuals can’t ‘achieve’ what is an inherently elusive feeling. Plus, all the data collected on human emotions can be used for more targeted marketing, or manipulation.” Four major authors and economists square off on whether happiness is really a healthy goal for society.
The Global Wellness Institute (GWI) is joining hundreds of companies worldwide in “Saying Yes!” to Global Wellness Day (GWD), a one-day event celebrating health and wellbeing and taking place this June 13. The idea is to increase global consciousness of living a better life, even if for one day.
We would like to encourage you to spread the word by supporting proactive wellness among your customers and employees. To help, we have put together a press release you can use as a template to send out to local media telling them just what you’re “saying yes” to this GWD.
The third edition of the World Happiness Report just came out, research which uses six variables to identify the differing levels of happiness in countries around the world. And economist Thierry Malleret explains that while money and health are keys to happiness, factors like “social support” and “generosity”—and the fact that people are happier when they’re socially fulfilled as members of a group—that make Mexico (less wealthy and institutionally strong) a happier place than the richer U.S. Read which are the happiest countries and why.
