Sebastian Galiani, Paul Gertler, Raimundo Undurraga, 21 July 2015

Does material wealth make you happier? Recent literature and public discussion suggests that we believe widely that, in the long term, it doesn’t; especially if you are fairly wealthy and live in the West. But what if you’re poor and live in a developing country? This column presents new evidence that taking material improvements for granted is a common human behaviour that is present even among the extremely poor.

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