Credit: lodrakon: Dreamstime“I’ve been rich and I’ve been poor. Believe
me, honey, rich is better,” the vaudevillian Sophie Tucker quipped.
Tucker’s witticism will not strike most of us as controversial. Yet
some really smart people are anxious to persuade the rest of us
that more money can’t buy us more happiness. New research by two
economists at the University of Michigan, Betsey Stevenson and
Justin Wolfers, finds that more money does buy more
happiness. Reason Science Correspondent Ronald Bailey
delves into this oddly controversial claim.

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