Money: The Key to Happiness or the Root of All Evil?

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In a put-down of F. Scott Fitzgerald, Ernest Hemmingway once wrote, "The very rich are different from you and me… they have more money." But ever since Adam Smith's Wealth of Nations in 1776, western economies have been based on growth and prosperity as the keys to happiness. On the day after Christmas, with the US heading into a major recession, it's worth asking if that’s really true. One study says Puerto Ricans are happier than Germans or Japanese? How come? Is a simpler, more frugal life more satisfying after all?

Credits

Guests:
Ed Diener - Professor Emeritus of Psychology, University of Illinois at Urbana-Champaign, Daniel Kahneman - Professor Emeritus of Psychology, Princeton University, Vicky Robin - Co-author, 'Your Money of Your Life'

Host:
Warren Olney

Producers:
Christian Bordal, Karen Radziner, Frances Anderton