Datastream
Charted: Money Can Buy Happiness After All
The Briefing
- Previous research has indicated that money stops buying happiness after $75,000/year
- However, new research finds a strong correlation between income and happiness, trending upwards even after $80,000/year
In One Chart: Money Can Buy Happiness After All
What’s the relationship between money and happiness? Previous studies have indicated that, while money can in fact buy happiness, it plateaus at approximately $75,000/year.
However, new research suggests otherwise.
Using over a million real-time reports from a large U.S. sample group, a recent study found that happiness increases linearly with reported income (logarithmic), and continues to rise beyond the $80,000/year mark.
Below, we’ll provide more details on the research methodology, while touching on a few possible reasons why higher incomes may improve people’s happiness levels.
How is Happiness Measured?
Past research on happiness relative to income has relied on retrospective data, which leaves room for human memory errors. In contrast, this new study uses real-time, logged data from a mood tracking app, allowing for a more accurate representation of respondents’ experienced well-being.
Data was also collected by random prompts over a period of time, with dozens of entries logged for each single respondent. This provides a more well-rounded representation of a person’s overall well-being.
Two forms of well-being were measured in this study:
- Experienced well-being
A person’s mood and feeling throughout daily life. - Evaluative well-being:
Someone’s perception of their life upon reflection.
Both forms of well-being increased with higher incomes, but evaluative well-being showed a more drastic split between the lower and higher income groups.
The Results (Measured in Standard Deviations from Mean)
| Annual Income | Well-Being (Experienced) | Well-Being (Evaluative) |
|---|---|---|
| $15,000 | -0.21 | -0.34 |
| $25,000 | -0.11 | -0.32 |
| $35,000 | -0.09 | -0.19 |
| $45,000 | -0.06 | -0.15 |
| $55,000 | -0.05 | -0.07 |
| $65,000 | -0.03 | -0.04 |
| $75,000 | -0.01 | -0.02 |
| $85,000 | 0.01 | 0.03 |
| $95,000 | 0.03 | 0.01 |
| $112,500 | 0.04 | 0.08 |
| $137,500 | 0.06 | 0.17 |
| $175,000 | 0.08 | 0.17 |
| $250,000 | 0.17 | 0.24 |
| $400,000 | 0.19 | 0.35 |
| $625,000 | 0.15 | 0.38 |
Why Does Money Buy Happiness?
The report warns that any theories behind why happiness increases with income are purely speculative. However, it does list a few possibilities:
- Increased comfort
As someone earns more, they may have the ability to purchase things that reduce suffering. This is particularly true when comparing low to moderate income groups—larger incomes below $80,000/year still showed a strong association with reduced negative feelings. - More control
Control seems to be tied to respondents’ happiness levels. In fact, having a sense of control accounted for 74% of the association between income and well-being. - Money matters
Not all respondents cared about money. But for those who did, it had a significant impact on their perceived well-being. In general, lower income earners were happier if they didn’t value money, while higher income earners were happier if they thought money mattered.
Whatever the cause may be, one thing is clear—Biggie Smalls was wrong. Looks like more money doesn’t necessarily mean more problems.
»Like this? Then you might enjoy this article, Which Countries are the Most (and Least) Happy?
Where does this data come from?
Source: Proceedings of the National Academy of Sciences
Details: Participants were 33,391 employed adults living in the United States; median age was 33; median household income was $85,000/y (25th percentile = $45,000; 75th percentile = $137,500; mean = $106,548; SD = $95,393); 36% were male; and 37% were married
Datastream
Visualizing Companies with the Most Patents Granted in 2021
Companies around the world invest billions in R&D to provide cutting-edge innovation to their products and services.
The Briefing
- In 2021, the U.S. Patent and Trademark Office (USPTO) granted a total of 327,798 utility patents
- For almost three decades, IBM has been granted more patents each year than any other U.S. company
Visualizing Companies with the Most Patents Granted in 2021
Companies around the world invest billions in R&D to provide cutting-edge innovation to their products and services. In order to protect these investments, companies apply for patents. Therefore, the number of utility patents a company is granted can be considered a rough measure of its level of innovation.
Every year, the Patent 300 List identifies America’s most innovative companies within the intellectual property space by analyzing the patents granted by the United States Patent and Trademark Office (USPTO).
In 2021, the USPTO granted a total of 327,798 utility patents, down 7% from the previous year. Let’s take a look at which companies generated the most patents in 2021.
| Rank | Country | Company/Organization | 2021 Patents | Change from 2020 |
|---|---|---|---|---|
| 1 | 🇺🇸 U.S. | International Business Machines Corporation | 8,540 | -9% |
| 2 | 🇰🇷 South Korea | Samsung Electronics Co., Ltd. | 8,517 | 0% |
| 3 | 🇰🇷 South Korea | Lg Corporation | 4,388 | -13% |
| 4 | 🇯🇵 Japan | Canon K.K. | 3,400 | -8% |
| 5 | 🇨🇳 China | Huawei Technologies Co., Ltd. | 2,955 | -7% |
| 6 | 🇺🇸 U.S. | Intel Corporation | 2,835 | -14% |
| 7 | 🇹🇼 Taiwan | Taiwan Semiconductor Mfg. Co. Ltd. | 2,807 | -3% |
| 8 | 🇯🇵 Japan | Toyota Jidosha K.K. | 2,753 | -2% |
| 9 | 🇺🇸 U.S. | Raytheon Technologies Corporation | 2,694 | -16% |
| 10 | 🇯🇵 Japan | Sony Corporation | 2,624 | -9% |
For 29 consecutive years, IBM has led U.S. companies in the number of patents received annually. In 2021, the company received 8,540 patents, a 9% decline from the previous year.
IBM’s innovations are focused on solving major global challenges, and cover areas such as sustainable growth, climate change, and preventing future pandemics, as well as initiatives enabling food and energy security. They aim to address these problems through a blend of high-performance computing, artificial intelligence (AI), and quantum computing.
One of IBM’s most noteworthy innovations in 2021 was their new quantum processor called Eagle, which broke the 100-qubit barrier to bring quantum computing into a new era. This processor has the ability to solve problems that classical computers can’t, giving it the potential to bring real-world benefits to different fields from renewable energy to finance and more.
Samsung: A Close Second Innovator
Samsung Electronics is one of the biggest innovators over the last decade. In 2021, the company got 8,517 patents granted by the USPTO, a close second to IBM.
The company’s patent-winning innovations take place in several areas, including virtual and augmented reality (VR/AR), artificial intelligence and machine learning (AI/ML), 5G technologies, and autonomous driving.
The Technology Sector Dominates Utility Patents
Unsurprisingly, out of the top 25 companies with the most patents granted in 2021, 16 of them belong to the technology sector.
However, utility patents are not only limited to tech companies.
In fact, companies from all sectors apply for patents every year. Patents are great assets for companies since they give them exclusive commercial rights for their inventions and protect them from competition. This is one of the main reasons we see companies getting thousands of new patents every year.
Source: The Patent 300®, developed by Harrity Patent Analytics
Datastream
Russia Has Been Suspended From the UN Human Rights Council
Here’s how the global community voted on the resolution: In favor – 93 | Abstained – 58 | Against – 24
The Briefing
- 93 countries voted in favor of suspending Russia from the UN’s Human Rights Council, including all NATO member countries
- 24 countries voted against the resolution, including; China, Iran, and North Korea
Russia Has Been Suspended From the UN Human Rights Council
On April 7, 2022, the United Nations suspended Russia from its seat on the Human Rights Council.
This suspension comes amid growing condemnation of Russia over alleged civilian murders committed by Russian troops in Ukraine. Widely distributed videos appear to show the bodies of civilians scattered along the streets in the Ukrainian town of Bucha.
To be approved, the resolution required a two-thirds majority of assembly members that vote “yes” or “no”. Here is a complete list of how countries voted:
| Country | Vote | NATO Member | Former Soviet Union |
|---|---|---|---|
| 🇦🇩 Andorra | In favor | ||
| 🇦🇫 Afghanistan | -- | ||
| 🇦🇬 Antigua and Barbuda | In favor | ||
| 🇦🇱 Albania | In favor | ||
| 🇦🇲 Armenia | -- | ||
| 🇦🇴 Angola | Abstained | ||
| 🇦🇷 Argentina | In favor | ||
| 🇦🇹 Austria | In favor | ||
| 🇦🇺 Australia | In favor | ||
| 🇦🇿 Azerbaijan | -- | ||
| 🇧🇧 Barbados | Abstained | ||
| 🇧🇩 Bangladesh | Abstained | ||
| 🇧🇪 Belgium | In favor | ||
| 🇧🇫 Burkina Faso | -- | ||
| 🇧🇬 Bulgaria | In favor | ||
| 🇧🇭 Bahrain | Abstained | ||
| 🇧🇮 Burundi | Against | ||
| 🇧🇯 Benin | -- | ||
| 🇧🇳 Brunei Darussalam | Abstained | ||
| 🇧🇴 Bolivia | Against | ||
| 🇧🇷 Brazil | Abstained | ||
| 🇧🇸 Bahamas | In favor | ||
| 🇧🇹 Bhutan | Abstained | ||
| 🇧🇼 Botswana | Abstained | ||
| 🇧🇾 Belarus | Against | ||
| 🇧🇿 Belize | Abstained | ||
| 🇨🇦 Canada | In favor | ||
| 🇨🇩 Dem. Republic of the Congo | In favor | ||
| 🇨🇫 Central African Republic | Against | ||
| 🇨🇬 Republic of the Congo | Against | ||
| 🇨🇭 Switzerland | In favor | ||
| 🇨🇮 Côte d’Ivoire | In favor | ||
| 🇨🇱 Chile | In favor | ||
| 🇨🇲 Cameroon | Abstained | ||
| 🇨🇳 China | Against | ||
| 🇨🇴 Colombia | In favor | ||
| 🇨🇷 Costa Rica | In favor | ||
| 🇨🇺 Cuba | Against | ||
| 🇨🇻 Cabo Verde | Abstained | ||
| 🇨🇾 Cyprus | In favor | ||
| 🇨🇿 Czech Republic | In favor | ||
| 🇩🇪 Germany | In favor | ||
| 🇩🇯 Djibouti | -- | ||
| 🇩🇰 Denmark | In favor | ||
| 🇩🇲 Dominica | In favor | ||
| 🇩🇴 Dominican Republic | In favor | ||
| 🇩🇿 Algeria | Against | ||
| 🇪🇨 Ecuador | In favor | ||
| 🇪🇪 Estonia | In favor | ||
| 🇪🇬 Egypt | Abstained | ||
| 🇪🇷 Eritrea | Against | ||
| 🇪🇸 Spain | In favor | ||
| 🇪🇹 Ethiopia | Against | ||
| 🇫🇮 Finland | In favor | ||
| 🇫🇯 Fiji | In favor | ||
| 🇫🇲 Micronesia | In favor | ||
| 🇫🇷 France | In favor | ||
| 🇬🇦 Gabon | Against | ||
| 🇬🇩 Grenada | In favor | ||
| 🇬🇪 Georgia | In favor | ||
| 🇬🇭 Ghana | Abstained | ||
| 🇬🇲 Gambia | Abstained | ||
| 🇬🇳 Guinea | -- | ||
| 🇬🇶 Equatorial Guinea | -- | ||
| 🇬🇷 Greece | In favor | ||
| 🇬🇹 Guatemala | In favor | ||
| 🇬🇼 Guinea-Bissau | Abstained | ||
| 🇬🇾 Guyana | Abstained | ||
| 🇭🇳 Honduras | In favor | ||
| 🇭🇷 Croatia | In favor | ||
| 🇭🇹 Haiti | In favor | ||
| 🇭🇺 Hungary | In favor | ||
| 🇮🇩 Indonesia | Abstained | ||
| 🇮🇪 Ireland | In favor | ||
| 🇮🇱 Israel | In favor | ||
| 🇮🇳 India | Abstained | ||
| 🇮🇶 Iraq | Abstained | ||
| 🇮🇷 Iran | Against | ||
| 🇮🇸 Iceland | In favor | ||
| 🇮🇹 Italy | In favor | ||
| 🇯🇲 Jamaica | In favor | ||
| 🇯🇴 Jordan | Abstained | ||
| 🇯🇵 Japan | In favor | ||
| 🇰🇪 Kenya | Abstained | ||
| 🇰🇬 Kyrgyzstan | Against | ||
| 🇰🇭 Cambodia | Abstained | ||
| 🇰🇮 Kiribati | In favor | ||
| 🇰🇲 Comoros | In favor | ||
| 🇰🇳 Saint Kitts and Nevis | Abstained | ||
| 🇰🇵 North Korea | Against | ||
| 🇰🇷 South Korea | In favor | ||
| 🇰🇼 Kuwait | Abstained | ||
| 🇰🇿 Kazakhstan | Against | ||
| 🇱🇦 Laos | Against | ||
| 🇱🇧 Lebanon | -- | ||
| 🇱🇨 Saint Lucia | In favor | ||
| 🇱🇮 Liechtenstein | In favor | ||
| 🇱🇰 Sri Lanka | Abstained | ||
| 🇱🇷 Liberia | In favor | ||
| 🇱🇸 Lesotho | Abstained | ||
| 🇱🇹 Lithuania | In favor | ||
| 🇱🇺 Luxembourg | In favor | ||
| 🇱🇻 Latvia | In favor | ||
| 🇱🇾 Libya | In favor | ||
| 🇲🇦 Morocco | -- | ||
| 🇲🇨 Monaco | In favor | ||
| 🇲🇩 Moldova | In favor | ||
| 🇲🇪 Montenegro | In favor | ||
| 🇲🇬 Madagascar | Abstained | ||
| 🇲🇭 Marshall Islands | In favor | ||
| 🇲🇰 North Macedonia | In favor | ||
| 🇲🇱 Mali | Against | ||
| 🇲🇲 Myanmar | In favor | ||
| 🇲🇳 Mongolia | Abstained | ||
| 🇲🇷 Mauritania | -- | ||
| 🇲🇹 Malta | In favor | ||
| 🇲🇺 Mauritius | In favor | ||
| 🇲🇻 Maldives | Abstained | ||
| 🇲🇼 Malawi | In favor | ||
| 🇲🇽 Mexico | Abstained | ||
| 🇲🇾 Malaysia | Abstained | ||
| 🇲🇿 Mozambique | Abstained | ||
| 🇳🇦 Namibia | Abstained | ||
| 🇳🇪 Niger | Abstained | ||
| 🇳🇬 Nigeria | Abstained | ||
| 🇳🇮 Nicaragua | Against | ||
| 🇳🇱 Netherlands | In favor | ||
| 🇳🇴 Norway | In favor | ||
| 🇳🇵 Nepal | Abstained | ||
| 🇳🇷 Nauru | In favor | ||
| 🇳🇿 New Zealand | In favor | ||
| 🇴🇲 Oman | Abstained | ||
| 🇵🇦 Panama | In favor | ||
| 🇵🇪 Peru | In favor | ||
| 🇵🇬 Papua New Guinea | In favor | ||
| 🇵🇭 Philippines | In favor | ||
| 🇵🇰 Pakistan | Abstained | ||
| 🇵🇱 Poland | In favor | ||
| 🇵🇹 Portugal | In favor | ||
| 🇵🇼 Palau | In favor | ||
| 🇵🇾 Paraguay | In favor | ||
| 🇶🇦 Qatar | Abstained | ||
| 🇷🇴 Romania | In favor | ||
| 🇷🇸 Serbia | In favor | ||
| 🇷🇺 Russia | Against | ||
| 🇷🇼 Rwanda | -- | ||
| 🇸🇦 Saudi Arabia | Abstained | ||
| 🇸🇧 Solomon Islands | -- | ||
| 🇸🇨 Seychelles | In favor | ||
| 🇸🇩 Sudan | Abstained | ||
| 🇸🇪 Sweden | In favor | ||
| 🇸🇬 Singapore | Abstained | ||
| 🇸🇮 Slovenia | In favor | ||
| 🇸🇰 Slovakia | In favor | ||
| 🇸🇱 Sierra Leone | In favor | ||
| 🇸🇲 San Marino | In favor | ||
| 🇸🇳 Senegal | Abstained | ||
| 🇸🇴 Somalia | -- | ||
| 🇸🇷 Suriname | Abstained | ||
| 🇸🇸 South Sudan | Abstained | ||
| 🇸🇹 Sao Tome and Principe | -- | ||
| 🇸🇻 El Salvador | Abstained | ||
| 🇸🇾 Syria | Against | ||
| 🇸🇿 Eswatini | Abstained | ||
| 🇹🇩 Chad | In favor | ||
| 🇹🇬 Togo | Abstained | ||
| 🇹🇭 Thailand | Abstained | ||
| 🇹🇯 Tajikistan | Against | ||
| 🇹🇱 Timor Leste | In favor | ||
| 🇹🇲 Turkmenistan | -- | ||
| 🇹🇳 Tunisia | Abstained | ||
| 🇹🇴 Tonga | In favor | ||
| 🇹🇷 Turkey | In favor | ||
| 🇹🇹 Trinidad and Tobago | Abstained | ||
| 🇹🇻 Tuvalu | In favor | ||
| 🇹🇿 Tanzania | Abstained | ||
| 🇺🇦 Ukraine | In favor | ||
| 🇺🇬 Uganda | Abstained | ||
| 🇦🇪 United Arab Emirates | Abstained | ||
| 🇬🇧 United Kingdom | In favor | ||
| 🇺🇸 United States | In favor | ||
| 🇺🇾 Uruguay | In favor | ||
| 🇺🇿 Uzbekistan | Against | ||
| 🇻🇨 St Vincent and the Grenadines | Abstained | ||
| 🇻🇪 Venezuela | -- | ||
| 🇻🇳 Vietnam | Against | ||
| 🇻🇺 Vanuatu | Abstained | ||
| 🇼🇸 Samoa | In favor | ||
| 🇾🇪 Yemen | Abstained | ||
| 🇿🇦 South Africa | Abstained | ||
| 🇿🇲 Zambia | -- | ||
| 🇿🇼 Zimbabwe | Against | ||
| 🏴 Bosnia and Herzegovina | In favor |
Not surprisingly, all NATO countries voted in favor of suspending Russia from the Council. This includes Turkey, which has taken a more neutral stance than other allies since the invasion began. Altogether, 93 countries voted for the resolution.
On the other side, 24 countries voted against the resolution. China is perhaps the most significant “no” vote, citing a lack of openness and transparency in the process. Of course, Russia itself voted against the resolution.
A number of countries abstained from voting, most notably, India. Leading up to the vote, Moscow indicated that even an abstention would be viewed as an “unfriendly gesture” with consequences for bilateral ties.
This suspension adds to the list of actions taken against Russia—including heavy sanctions—as the country becomes more isolated from the international community—particularly Western nations.
What Does the UN Human Rights Council Do?
The United Nations Human Rights Council (UNHRC) is a UN body whose mission is to promote and protect human rights around the world.
The Council investigates breaches of human rights in UN member states and member countries address big picture human rights issues.
How Does the UN Human Rights Council Work?
The Council consists of 47 members, elected yearly by the General Assembly for staggered three-year terms.
Using the UN regional grouping system, members are selected to represent a diverse and fair mix of countries from around the world. Until its suspension, Russia was one of the two countries representing Eastern Europe, along with Ukraine.
Members are eligible for re-election for one additional term, after which they relinquish their seat.
Where does this data come from?
Source: The United Nations
Correction: An earlier version of this graphic had a Colombian flag in the “abstain” section. It has been replaced with the correct flag, Cambodia. Austria was also erroneously grouped with NATO countries.
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