kid eats the entire cake

Does being greedy pay off?

The answer to the above is yes. Partly. Recent research looked at income level and other life outcomes to see whether greedy people were richer or happier. Unsurprisingly, greedier individuals did generate more personal and household income.

However… they also were less satisfied in life. The researchers give several possible explanations for the outcomes. Never having enough and the endless pursuit of more may lead to lower life satisfaction. But the explanation can also be less direct. People could be less satisfied with life because there may be different outcomes associated with greed – worse relationships, for example. 

Overall, the study concluded that strong social relationships are crucial to well-being, “even more so than having a good income.” How can we support people in fostering well-being as an important factor besides welfare?