Money Can Buy Happiness But (But The Truth No One Will Tell)
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Lesson summary:
The author initially thought that printing more money could solve the problem of increasing commodity prices. However, he later realized that it would only lead to inflation. The limited resources of the world cannot cater to the ever-increasing population, which is why the cost of resources is increasing, and people have to work to contribute towards the economy to afford a certain lifestyle. While income and happiness are correlated up to $75,000, it does not increase beyond that. People adjust to new and better circumstances, which leads to increased expectations and aspirations. The allocation of money, which is limited for most people, is crucial to ensure happiness.