What price happiness?

This article by Brendan I. Koerner suggests that your happiness may be worth $3.2 million (US).

Can we really hope to measure happiness in monetary terms?

Perhaps the measurement of happiness requires some longer-termed accounting for tangibles like less sick days; and for intangibles like increased willingness to share ideas, innovation, and job effectiveness.

Do we want to measure happiness in monetary terms? If we were ever successful in doing so, would act itself that not devalue the whole concept?

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