But maybe it can buy you happiness?
The TED talk quotes this article on CNN. Here’s a quote:
Research in psychology and economics has found that people do get happier as their income increases, but only up to a certain level where they are comfortable. One of the more recent studies on the subject, published in the Proceedings of the National Academy of Sciences last year, found life satisfaction rises with higher incomesup to a household income of about $75,000, and levels off afterward.
In general, the research on the happiness of lottery winners is mixed. A 2006 study in the Journal of Health Economics of lottery winners in Britain who won up to $200,000 found an improvement in their mental well-being two years later. But an often-referenced study from 1978, comparing 22 major lottery winners with people who did not win, found no difference in happiness levels between the two groups.