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Washington - While it is widely believed that money can not buy love, a new study has suggested that it can buy you happiness but only up to a ‘sweet spot’ of 36,000 dollars GDP per person. A new analysis led by economists Eugenio Proto in the Centre for Competitive Advantage in the Global Economy at the University of Warwick and Aldo Rustichini, from University of MInnesota found that as expected, for the poorest countries life satisfaction rises as a country’s wealth increases as people are able to meet their basic needs. However, the new surprise finding is that once income reaches a certain level – around 36,000 dollars, adjusted for Purchasing Power Parity (PPP) - life satisfaction levels peaks, after which it appears to dip slightly in the very rich countries. The researchers found suggestive evidence that this happiness dip in the wealthiest countries is because more money creates higher aspirations, leading to disappointment and a drop in life satisfaction if those aspirations are not met. The study was published in journal PLOS ONE.
Alarming increase in use of death penalt...

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World News in Brief: Food insecurity in ...

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Sudan 'killing field' massacre
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Yemen: Children are dying and its going ...

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Kerry shows optimism on Israel-Palestinian peace talks

Kerry shows optimism on Israel-Palestinian peace talks

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Obama to attend memorial events in honour of Mandela

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Nepal to deploy security force at customs points

Nepal to allow private investment in power transmission

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Africa must ensure its own security: France

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South Korea mourns Nelson Mandela’s death

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A section of the printing plant run by the communists in Northern China. Photographs of Stalin and President Franklin Delano Roosevelt are seen on the walls. Mao Tse Tung rules the area with an iron fist and as a consequence the area is in fact a state within a state.

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Powerful groups trying to divert attention from issue of illegal ...

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