** Yes, money can buy you happiness, says a study, finally putting an end to the age-olddebate.* This is because cash is the most important factor in making people feelcontent, according to the study by a dozen academics from around the world. Infact, the researchers have based their conclusion on an analysis of an array of datafrom 126 countries across the world, the British media reported.* The findings by the Institute of Economic Affairs have shown that happiness levelscorrelate with the amount of wealth a person accumulates . And, it does not level offwhen the assets reach a certain threshold , say the researchers.* The finding contradicts the widely held belief that above a certain incomelevel, people do not become any happier.* The study argues a 20% rise in income has the same impact on wellbeing irrespective ofhow much wealth the person has initially. "No country is rich enough to have hit asatiation point, if such a point exists. These findings are robust and use an extremelyrich set of data. Richer individuals are happier with their lives," the study says. Thisholds true for more or less all the countries in which "the relationship between incomeand satisfaction is similar".* http://articles.timesofindia.indiatimes.com/2012-01-17/science/30634757_1_happiness-countries-study
** In Academia we have a concept in Research called Cetris Paribus meaning – all otherthings being equal/constant.* It is of utmost importance to understand how someone reaches a conclusion and whatare his assumptions, models, attributes he holds constant* What is Love and Happiness? Or a broader question. What is Reality?* Reality is our perception of the world we live in. We perceive love and happiness.* If Happiness and Love is what you percieve. Then everything else remaining constantMoney doesn’t Hurt in getting more of anything you can perceive it actually augmentsthe perception e.g. Love and Happiness* So what’s left is to discuss “Money can’t buy you health” I think that too is Debateable.Lets use the principle of cetris paribus* Money wont buy or substitute health but everything else remaining constant it will buyyou “The best healthcare in the world” cetris paribus.* Which means everything else remaining equal. Money gets you more love, happinessand health.* Or as the Career Counsellor of Indian School of Business once told me and my newlywed wifey. “Happiness in a family is directly proportional to the monthly income of thefamily’
** There are many people who sacrifice themselves and their families(they decide the sacrifice on behalf of their families unilaterally mostof the times) for the greater good of the Society* Again Statistics says “Unless you are a Saint such an approach hasvery limited impact on the society IN COMPARISON TO helpingyourself first, becoming successful and then doing something for thesociety”* Again lets use Cetris Paribus – we state that everyone in the teamunder research has one thing common “They all want to do good forthe Society”* Who succeeds in doing so with the most impact?* Statistical Answer: Social Impact has a very high correlation with thelevel of Success of the Individuals cetris paribus (everything elseremaining equal)* Answer: Help yourself and then help others. That’s the right andperhaps the only way to go about making a difference in our society
** There is a huge debate going on in the world about the need for MBA’s to Be Altruistic, or in general forEmployees to be altruistic (And Loyal [@#$#@%^^%] or something like that!!!)* Lets assume we are not talking about Charitable Causes/Businesses* Once we assume that we realize that Employee Altruism is a One Way Street.* Businesses are not there for Charity. They are there for a specific purpose and it is universally acceptedthat that purpose is to make money.* Altruism is a loss making proposition for the employee and his family* If you buy into their argument Business’s will only exploit it to make more and more money* When Businessmen debate “Whether we should hire MBA’s or not?” they are basically discussing “Shouldwe even share our wealth and success with these guys”* Now answer me this “Which Ivy League MBA works less than 14 hours a day 7 days a week for hisemployers?” Now you want them to do it for you for Free??????* How is altruism going to work within the Realities mentioned above and this world when an MBA spends$300,000 on his education and 5-6 years of his life getting ready for the education and getting thateducation? And you have to carry debt for the next 10 years of your life?* Conclusion: Altruism is a Two Way Street…* Conclusion: It’s a Capitalistic World, there is nothing like a free lunch.* Also The Reality of the world also is that how much ever money businesses have they cannot equitablydistribute it amongst their employees, the amount will be inconsequential.