This isn’t the whole story but it is an interesting place to start
Money can’t buy happiness — but lack of it can certainly make you progressively miserable, says one Nobel Prize-winning economist.
Daniel Kahneman, one of the founders of the now-popular field of behavior economics, delivered a fascinating TED talk earlier this year entitled “The Riddle of Experience vs. Memory,” and got into an interesting discussion with TED host and curator Chris Anderson. (Hat tip toGatesVPblog via My Money Blog.)
Arguing that experience is essentially divided into the “experiencing self” and the “remembering self,” Kahnemen suggests that happiness is essentially an act of deftly balancing the two. (They don’t always match up, it turns out.) Here’s Kahneman:
MAHB Millennium Assessment of Human Behavior