A report by the London School of Economics and Political Science found that the key to happiness is not money. Love is officially more important to people than money, as a study reveals being in relationship makes people happier than doubling their income.
According to the report’s findings, most human misery is not due to economic factors but failed relationships and physical and mental illness. Eliminating depression and anxiety would reduce misery by 20 percent while eliminating poverty would reduce it by five percent.
On average people have become no happier in the last 50 years, despite average incomes more than doubling, said Richard Layard, who led the report called “origins of happiness” that was presented at a conference on wellbeing in London.
“The evidence shows that the things that matter the most for our happiness and for our misery are our social relationships and our mental and physical health,” Layard said.
“There is also powerful evidence that schools have a big impact on children’s emotional health, and which school a child goes to will affect their emotional wellbeing as much as it affects their exam performance,” said Layard.
The report supports the arguments put forward by Layard over several decades that social and psychological factors are more important to the wellbeing of individuals than income levels.