The TED Interview How much happiness can 2 million USD buy? with Elizabeth Dunn
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May 16, 2024 Social psychologist Elizabeth Dunn discusses the relationship between money, generosity, and happiness in a fascinating study where $10,000 was given to random recipients. The results reveal the impact of active generosity on well-being and the joy of giving. The conversation delves into the significance of strategic philanthropy and cultural differences in charitable giving.
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Generosity and Happiness
- Elizabeth Dunn studies happiness and generosity to understand how people use their money.
- She began her research by exploring how disposable income could increase happiness.
Early Experiment on Spending and Happiness
- In an early experiment, Dunn's team gave students money and instructed them to spend it on themselves or others.
- Those who spent money on others reported higher happiness levels at the end of the day.
Gallup Survey Findings
- A Gallup survey showed that donating to charity correlates with happiness similar to doubling one's income.
- While correlational, this suggests a strong link between generosity and happiness.