Can’t buy me meaning? Money cuts a quicker path to happiness

Eudaemonic well-being arises from meaningful activities, while hedonic happiness comes from pleasurable pursuits. In a sense, money can buy you both.

Imagine how you feel when pursuing a significant, long-term life goal. The work itself may not be particularly pleasurable, but it’s imbued with a sense of meaning and purpose. Under those circumstances, you’re cultivating a sense of eudaemonic well-being. Now, imagine taking heroin. It’s immediately enjoyable, but not particularly meaningful. That’s hedonic well-being. In the short-term, hedonic pleasure might be closer to what most people would define as “happiness,” but if you ask people about how to live a happy life, they’ll likely tell you eudaemonic pursuits are more important.

Doctor of...