Nobel winning economist says ideal income is $104,000 pesos a month

Angus Deaton, an award-winning economist at Princeton University, proposed that people ‘would be happy’ and have less fear of what lies ahead if he earned $104,000 pesos a month.

The conclusion of the expert Nobel Prize winner in economics for his research on the relationship between wealth and happiness is based on a 2010 study revealing that someone who earns $75,000 dollars a year feel they have a better life, but not necessarily happier.

The purpose behind the research is whether there is a relationship between happiness and the amount of money you earn each month. In other words, academia asks whether it is possible to ‘buy happiness’.

According to the study, when a person earns enough to avoid thinking about what will become of his life in a few years, they feel happier and more confident, detailed Forbes website.

‘With an income of approximately $75,000 (1,243,000 pesos) each year does not affect your daily mood or happiness, but you do feel like you have a better quality life,’ reveals Deaton.

Considering that the minimum wage in Mexico has just reached $70 pesos a day, $1960 pesos a month, that pay proposal is far from reality, not only in our country but in most nations of the world.

However, Pew Research Center last November named the Mexican people as the happiest people on earth. So does money really buy happiness?

Puerto Vallarta News

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