One of the first rules taught in any introduction to microeconomics class is that an increase in consumption ability, otherwise known as income, increases utility, and utility is a measure of satisfaction. In English, more money equals more happiness. While this premise is perhaps simple-minded and even a caricature (imagine Scrooge or Mr. Burns nodding with pleasure), don't judge economists too harshly. The idea demonstrates what motivates individuals in the marketplace and the labor force. The principle reflects attitudes in much of the developing world, where satisfying everyday needs is ... Read More