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Nobel Prize Winner Thinks A $75,000 Salary Makes You Happy

https://www.forbes.com/sites/dandiamond/2015/10/12/angus-dea...
hyperactive nowag
  12/14/17
Then compliance attorneys must be the happiest people on ear...
charismatic lake state idiot
  12/14/17
...
hyperactive nowag
  12/14/17
but enough about ARE reptile
hairraiser senate
  12/14/17
...
Awkward Black Woman Piazza
  12/14/17
This is why no one takes economists seriously
Gay Shitlib Jew
  12/14/17
perfect xo response
hyperactive nowag
  12/14/17
...
Slap-happy toilet seat
  12/14/17
...
trip aquamarine sneaky criminal
  12/14/17
...
Maroon menage
  12/14/17
The result is probably good. The problem is that it doesn't ...
Fluffy drab crotch
  12/15/17
if you can't be content with 75k, you wouldn't be content wi...
French Shimmering Center
  12/14/17
you are such a stupid faggot, im done reading your posts. pl...
trip aquamarine sneaky criminal
  12/14/17
...
Cracking fiercely-loyal coldplay fan address
  12/14/17
...
canary apoplectic rigpig rigor
  12/15/17
References to Chandler's "ending it all tonight" t...
exciting fat ankles brunch
  12/14/17
Considerations: 1. That number would be somewhere over $8...
Fluffy drab crotch
  12/14/17
Fucking CR. The marginal utility of another dollar falls ...
marvelous forum main people
  12/14/17
thats 40 dollars an hour. thats nothing. thats what mechanic...
trip aquamarine sneaky criminal
  12/14/17
yes, for a boomer with $1.2M in home equity in a coastal are...
Cracking fiercely-loyal coldplay fan address
  12/14/17
Yes but how much will make me a misanthrope?
aromatic public bath
  12/14/17
how would you afford kids ?
mahogany motley people who are hurt locus
  12/15/17
I think he means 75k surplus post tax above your annual expe...
sticky becky pit
  12/15/17
Maybe averaged over the entire world population
wonderful hunting ground reading party
  12/15/17


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Date: December 14th, 2017 9:41 AM
Author: hyperactive nowag

https://www.forbes.com/sites/dandiamond/2015/10/12/angus-deaton-who-just-won-nobel-prize-thinks-a-75000-salary-makes-you-perfectly-happy/#74c80f877775

Angus Deaton, Who Just Won Nobel Prize, Thinks A $75,000 Salary Makes You Happy

Angus Deaton, the 69-year-old economist who won a Nobel Prize on Monday morning, isn't exactly a household name.

At one point, nearly 75% of respondents to a poll on NobelPrize.org today said they hadn't heard of his signature work.

But even if he's relatively unknown, you're probably familiar with one of Deaton's studies.

The much-reported finding that making more than $75,000 per year doesn't make you significantly happier on any given day? That was discovered by Deaton (along with fellow economist Daniel Kahneman).

"The question of whether 'money buys happiness' comes up frequently in discussions of subjective well-being in both scholarly debates and casual conversation," Deaton and Kahneman wrote in 2010.

"More money does not necessarily buy more happiness, but less money is associated with emotional pain."

(It's worth noting that Deaton and Kahneman did find that richer people tend to objectively evaluate their lives in a more positive way, as Jordan Weissmann points out at Slate.)

Deaton and Kahneman found that happiness leveled off at a salary of about $75,000 per year.

Deaton and Kahneman found that happiness leveled off at a salary of about $75,000 per year.

The $75,000-salary-equals-happiness benchmark is useful, although it's not specifically why the Nobel Committee honored Deaton.

Instead, the committee praised his research into the study of consumption — essentially, how we use goods and services, and what that means for our welfare.

And on this front, Deaton is essentially unparalleled.

Deaton's "Almost Ideal Demand System," which he developed with John Muellbauer in 1980, has helped shape research into consumption of commodities. He's helped change how economists measure living standards and poverty in developing countries — or as the committee put it, "Deaton helped transform development economics from a largely theoretical field based on crude macro data, to a field dominated by empirical research based on high-quality micro data."

Deaton is a "brilliant selection" for a Nobel Prize, Tyler Cowen writes at Marginal Revolution. (Cowen has more on why Deaton is a deserving choice.)

Much of Deaton's work has focused on inequality and poverty, and how the world's poorest countries face significant economic and health challenges.

But if there's a through line in Deaton's work, it's that he's optimistic — that despite the world's many problems, we are on the right track. And that economic growth is propelling us forward, whether raising the standard of living in India or connecting Americans through the digital revolution.

"The story Deaton tells — the most inspiring human story of all — should give all of us reason for optimism," David Leonhardt wrote in the New York Times, reviewing Deaton's 2013 book, "The Great Escape."

"By the most meaningful measures — how long we live, how healthy and happy we are, how much we know — life has never been better."

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34916654)



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Date: December 14th, 2017 9:42 AM
Author: charismatic lake state idiot

Then compliance attorneys must be the happiest people on earth

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34916661)



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Date: December 14th, 2017 9:47 AM
Author: hyperactive nowag



(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34916693)



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Date: December 14th, 2017 9:53 AM
Author: hairraiser senate

but enough about ARE reptile

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34916730)



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Date: December 14th, 2017 4:25 PM
Author: Awkward Black Woman Piazza



(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34920052)



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Date: December 14th, 2017 10:14 AM
Author: Gay Shitlib Jew

This is why no one takes economists seriously

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34916891)



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Date: December 14th, 2017 4:01 PM
Author: hyperactive nowag

perfect xo response

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34919825)



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Date: December 14th, 2017 4:02 PM
Author: Slap-happy toilet seat



(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34919845)



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Date: December 14th, 2017 4:29 PM
Author: trip aquamarine sneaky criminal



(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34920079)



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Date: December 14th, 2017 4:33 PM
Author: Maroon menage



(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34920111)



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Date: December 15th, 2017 12:04 AM
Author: Fluffy drab crotch

The result is probably good. The problem is that it doesn't mean quite what people think it means.

Momentary emotion (what was measured) isn't life satisfaction, for instance. People obviously care about more than just their immediate emotional state.

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34924146)



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Date: December 14th, 2017 4:03 PM
Author: French Shimmering Center

if you can't be content with 75k, you wouldn't be content with 750k

studies have shown that there is minimal happiness difference between the former and the latter.

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34919850)



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Date: December 14th, 2017 4:29 PM
Author: trip aquamarine sneaky criminal

you are such a stupid faggot, im done reading your posts. plz keep your moniker to help me out with that. thanks.

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34920084)



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Date: December 14th, 2017 4:37 PM
Author: Cracking fiercely-loyal coldplay fan address



(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34920152)



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Date: December 15th, 2017 12:05 AM
Author: canary apoplectic rigpig rigor



(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34924153)



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Date: December 14th, 2017 4:05 PM
Author: exciting fat ankles brunch

References to Chandler's "ending it all tonight" threading conspicuously absent in the study...

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34919872)



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Date: December 14th, 2017 4:07 PM
Author: Fluffy drab crotch

Considerations:

1. That number would be somewhere over $85,000 now.

2. Don't forget future you. If you want to have $85,000/year when you're old, you need to make a lot more now.

3. The study never claimed that $75,000 was the limit for life satisfaction, which appears to keep increasing with the amount of money you have.

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34919901)



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Date: December 14th, 2017 4:25 PM
Author: marvelous forum main people

Fucking CR.

The marginal utility of another dollar falls off a fucking cliff at a pretty low number.

The annoying result, by the way, is that an unexpected $5,000 windfall doesn't feel nearly as good/pleasurable as an unexpected $5,000 bill feels bad/annoying.

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34920047)



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Date: December 14th, 2017 4:28 PM
Author: trip aquamarine sneaky criminal

thats 40 dollars an hour. thats nothing. thats what mechanics make.

and as for the rest of this shit, hes into wanting to raise standards of living for indians. and he thinks this digital revolution is great? lol he sounds like a faggot thats wrong on just about everything that comes out of his mouth.

nobel prize? id line him up against the wall and BAM. just for being an economist, mind you.

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34920076)



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Date: December 14th, 2017 4:37 PM
Author: Cracking fiercely-loyal coldplay fan address

yes, for a boomer with $1.2M in home equity in a coastal area

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34920146)



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Date: December 14th, 2017 4:53 PM
Author: aromatic public bath

Yes but how much will make me a misanthrope?

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34920285)



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Date: December 15th, 2017 12:06 AM
Author: mahogany motley people who are hurt locus

how would you afford kids ?

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34924163)



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Date: December 15th, 2017 12:13 AM
Author: sticky becky pit

I think he means 75k surplus post tax above your annual expenses. Above that the marginal utility curve begins to flatten dramatically.

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34924211)



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Date: December 15th, 2017 12:23 AM
Author: wonderful hunting ground reading party

Maybe averaged over the entire world population

(http://www.autoadmit.com/thread.php?thread_id=3828675&forum_id=2#34924288)