What money has to do with happiness.

Happiness is a multifaceted concept that describes an emotional state characterized by joy, satisfaction, and positive feelings. Happiness researchers differentiate between long-term satisfaction, which is based on a general sense of life, and daily emotional well-being, which includes short-term feelings of happiness experienced in everyday life.

Neuroscience also contributes to the definition of happiness by distinguishing between genetically determined satisfaction and short-term feelings of happiness. These short-term feelings of happiness are triggered by a complex cocktail of hormones in the brain, influenced by various circumstances and experiences.

In summary, happiness can be described as an emotional state that encompasses both long-term satisfaction and short-term feelings of happiness, influenced by individual, genetic, social, and environmental factors.

Happiness is influenced by a variety of factors, as found by the Swiss economist and happiness researcher Bruno Frey. These include positive relationships, health, living conditions in relation to social and political circumstances, freedom, and self-realization. And yes, money also plays a role. Material wealth promises us financial security, a fundamental human need.

Interestingly, research shows that money makes us particularly happy when we share it. By buying something for others or donating, we can not only increase our own happiness but also promote the happiness of others. This underscores the importance of generosity and social responsibility for our personal sense of happiness.

The notion that more money automatically means more happiness is increasingly being questioned in the scientific community. For a long time, it was believed that money increases happiness up to a certain amount, after which the effect levels off.

A recent American study has provided new insights suggesting that both life satisfaction and daily emotional well-being can continue to increase with rising income, at least up to a certain upper limit. According to the study by S Money, this upper limit in Switzerland is about 105,000 Swiss francs.

The reason cited is that wealthy individuals feel they have more control over their lives. This supports the idea that financial security and autonomy are important aspects of personal happiness.ücksempfinden sind.

Money, along with the associated control and security, undoubtedly plays a role in our sense of happiness. However, there are other factors to consider. According to the World Happiness Report 2023, which lists the happiest countries in the world, Scandinavia, the Netherlands, and Switzerland occupy the top spots. These countries are characterized not only by material wealth but also by a strong democratic tradition, a high level of civic participation, more equality, and less social inequality.

The renowned scientist Bruno Frey concludes that people in democracies with more participation and freedom, as well as decentralized governance where local communities can act autonomously, are happier. This underscores the importance of participation, equality, and local autonomy for personal happiness.

Could this mean that a democratic monetary system makes us happier? We don't know. However, let's look at what might support this idea:

• Equality and Justice: In a democratic system like cryptocurrencies, we have equal opportunities for access worldwide. We can execute transactions in real time, better fulfilling our basic needs.

• Decentralized and Self-determined: With cryptocurrencies, we have complete control over our own assets. We are not dependent on central institutions and their rules. This can give us a sense of freedom and self-determination.

• Participation and Empowerment: Within the crypto community, users have the chance to participate in decisions regarding the use and distribution of money, thus shaping the system.

• Stability: Cryptocurrencies are not subject to exchange rates and interest rates. They could provide more stability and security to people in economically unstable countries.

• Transparency and Trust: Cryptocurrencies cannot be manipulated like traditional currencies. Users know more about the companies they do business with, and fraudulent or corrupt companies can be held accountable.

So, will cryptocurrencies be able to influence global happiness? This has not been researched. However, democratic monetary systems can bring benefits for each of us and for society as a whole, as well as for governments and companies. There are indeed voices that attribute potential to them to make the world a better place.