Study by London School of Economics shows money is not key to happiness
Eliminating poverty would only 'reduce misery in UK' by five per cent.
But tackling depression and anxiety would bring misery down by 20 per cent
It recommends more lessons in schools focusing on emotional wellbeing
Money really can’t buy happiness, according to an extensive research project into Britain’s well-being.
The cheapest way and most effective way to make Britain feel happier and to reduce misery levels is by improving mental health treatment.
A study by Lord Richard Layard and others at the London School of Economics found that treating depression and anxiety would reduce misery in the UK by 20 per cent.
Eliminating poverty would only reduce misery by five per cent, the study found.
Explaining why reducing poverty would not boost happiness levels, Lord Layard’s report said the problem is that income is measured against what others have around us.
So overall happiness is not boosted by raising incomes.
If one person’s income rises, someone else’s income suffers a fall in relative terms.
The report said this finding helps to explain why in Australia, Britain, Germany and the United States, average happiness has failed to rise since records began, despite massive increases in living standards.
The report is being presented today at a two-day conference at LSE held with the Organisation for Economic Co-operation and Development.
While income inequality explained only one per cent of the happiness in a community, the report said that mental health accounts for around four-to-five per cent.
And in the most unhappy 10 per cent of the population – Lord Layard terms ‘Les Miserables’ – a comparison to the poverty stricken slum dwellers of the time of the French Revolution, Lord Layard said that mental illness is the biggest factor.
He writes: ‘When we ask what distinguishes Les Misérables from the rest, the biggest distinguishing feature (other things equal) is neither poverty nor unemployment but mental illness.
'And it explains more of the misery in the community than physical illness does.’
The report also said that boosting the educational qualifications of children was also not a recipe for happiness, but rather their emotional well-being.
‘The evidence shows that the things that matter most for our happiness and for our misery are our social relationships and our mental and physical health.
'This demands a new role for the state – not "wealth creation" but "wellbeing creation",’ Lord Layad said.
‘In the past, the state has successively taken on poverty, unemployment, education and physical health.
'But equally important now are domestic violence, alcoholism, depression and anxiety conditions, alienated youth, exam-mania and much else. These should become centre stage.’
He added: ‘The best predictor is the emotional health of the child. How on earth did so many policy-makers come to believe that qualifications were the be-all and end-all - “in the interests of the child”.
The report calls for prevention of mental illness by a four-year curriculum called Healthy Minds, one hour-long lesson a week.
The report’s authors said the lessons would be an improvement on existing ‘life skills lessons of unknown but probably, low effectiveness.’
Nancy Hey, director of What Works Centre for Wellbeing, said: ‘Most people are convinced that improving wellbeing is important and that there is a need to act.
'What is trickier is understanding what organisations – government, business, communities – can do.
‘This world-leading research helps us understand what really supports people to live better lives.
'These findings can be used to inform policy and spending decisions, and I hope will lead to trials that continue to build the global evidence base of what works to improve wellbeing.’
Mailonline
