Does money make you happy?

Jun 9, 2020

• Why are some millionaires miserable while many in poverty are happy? 
• Does a rapidly-improving economy always lead to more well-being?
• How does optimism affect our economic futures?

These are some of the big questions Carol Graham has tackled in decades of extensive research into the economics of happiness. A Senior Fellow at the Brookings Institution and Professor at the University of Maryland's School of Public Policy, Carol’s books include Happiness around the World: The Paradox of Happy Peasants and Miserable Millionaires and The Pursuit of Happiness: An Economy of Well-Being, both of which have been published in several languages.

The economic factors that lead to happiness are often not what we humans believe them to be. Carol has spent her career challenging assumptions about how hope, uncertainty, optimism, inequality, and rapidly developing economies contribute to well-being. Her results, which are often counter-intuitive, are a great reminder of what we should keep in mind when trying to optimize both our personal happiness and that of the societies in which we live (hint: the two are connected).

Carol earned her A.B. at Princeton, an M.A. at Johns Hopkins and a Ph.D. at Oxford. (In other words, she’s real smart.)

Learn more about Carol on the Brookings Institution website.

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For books by Dr. Graham and other authors who have appeared on the show, shop the Crazy Money list on Bookshop.org. (CM gets a small commission.)

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