Friday, August 3, 2007
Money & Production
How relatable is money and production power to quality of life? We discuss how knowledge is creating more productive societies that are increasing their wealth, but does that directly relate to quality of life? I think there is a knee in the curve where some money does directly relate to quality of life, but not more and more money. It seems at some point the worry about getting more money and the drive to continue to make more and more outweighs the lifestyle and overall quality of life.
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2 comments:
Michelle, money gives people choices. I do agree that after a certain $ ammount, happiness doesn't always increase.
Actually, a number of studies have been done on this very topic. It seems that the magic break point according to some is around $150K/year. Don't quote me on this number, it's just what seems to stick out in my memory.
Thanks Steve, I am currently visiting family on the West coast and I posed the question to a family member who recently sold his business and is receiving monthly payments of around $50K (For the next 10 years). He said money is not a burden and that it just allows him and his wife to travel and watch the stock market more. That is however, after a life of ups and downs - living the dream then going bankrupt. In this case, after a long life of working hard it may be just fine to have mega money flowing in. This is also in retirement, so that makes things different. I think I heard the same thing referring to $150K/year being the breaking point. I plan on getting close to that :-)
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