Finally it is official - money CANNOT buy you happiness.
Even scooping the lotto jackpot will not help, because winners get used to the money thanks to a phenomenon known as the “hedonic treadmill”.
Behavioural economists claim that when our basic needs are met, extra income does not bring increased well-being.
Pete Lunn from the ESRI research institute has explained: “The science is pretty clear about this, money cannot buy you happiness, but poverty sure as hell can buy you unhappiness.
“When people are unhappy it is often because they are poor and particularly because they are unemployed and cannot participate within society but the important thing here is how people do relative to the people around them matters too.
“Quite often those inequalities within society are associated with feelings of unfairness and no one likes to feel like they are being made a mug of.”