Money Can Bring Happiness in Post-Recessionary Times

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In post-recessionary times, when incomes are squeezed, money does appear to make people happier in the world’s largest advanced economies. Perhaps surprisingly time spent on leisure does not always correlate with life-satisfaction.  Although it’s notable that the countries with most time to devote to leisure also have the highest unemployment rates so this could perhaps be explained by the enforced nature of the leisure time. Advanced Asian economies such as Japan and South Korea however, where long working hours cultures exist, also have lower than average life-satisfaction. So perhaps life-work balance, amply rewarded with increasing incomes, is the key.