The Missing 85%

I used to be Corporate Man. You know what that meant. A fancy job title. A high income. Occasionally I was even allowed home.

Ungrateful wretch that I am, I decided 12 years ago to step off the gravy train. Since then, my income has been about 15% of what it would have been.

Imagine it! What could I have done with the other 85%? The overseas holidays! The new cars! The launch! The pool! The home cinema! Oh dear, all of that happiness foregone!

Don't cry for me, Argentina. I've missed out on the goodies, but I haven't missed out on the happiness.

Why so? Last week I came across a convincing explanation by, of all people, an economist. Not any old economist. Richard Easterlin of the University of Southern California is about as eminent as they come.

Easterlin's basic point is that we are driven by a myth. We spend our lives chasing the dollars because we believe that the dollars will make us happier. But numerous research studies show that an increase in income doesn't in fact bring about