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money makes poorer people happier,


but why does money have a relatively weak effect on wealthier people’s happiness?

One answer is that as income rises beyond a certain level, its positive effects (e.g., the ability to fly first class or retain top-notch medical specialists) may be offset by some negative effects, like increased time pressure (e.g., longer working hours and commutes) and increased stress (e.g., holding powerful positions, anxieties about investments, and problems with overindulged children).

And because wealth allows people to experience the best that life has to offer, it can reduce their capacity to savor life’s small pleasures.

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