Economic growth – and the higher gross domestic product (GDP) per person and improved wages that usually accompany it – actually improve happiness and well-being, according to several recent papers by top economists, drawing on far more data than their predecessors ever had access to and using novel statistical techniques.

The truth, it turns out, is that the richer we are, the happier we are. It’s (almost) that simple, and the evidence is now overwhelming.

http://www.telegraph.co.uk/finance/comment/9850842/The-fact-is-the-richer-you-are-the-happier-you-are.html