Money does make you happy

The old adage that money can't buy happiness is a lie: money can and does make people happy. But that's bad news for many of us, as we're about to become a lot more miserable.

I've got some really depressing news. It seems that money really can make you happy.

For years now those of us who aren't quite as rich as we'd like to be have been able to comfort ourselves by reading and re-reading research published by economist Richard Easterlin in 1974. This theorised with considerable statistical back up that absolute income has no bearing on happiness levels. People in poorer societies are happier when they can afford basic necessities than when they cannot (I imagine that bit was pretty obvious from the start), but beyond that further gains made little difference.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.