Andrew Oswald
Andrew Oswald
Andrew Oswaldwas until recently the Acting Research Director at the IZA Institute in Bonn and is a Professor of Economics at the University of Warwick, UK. He is an ISI Highly Cited Researcher and has been a Professorial Fellow of the ESRC. He is currently a member of the board of editors of Science. He held previous posts at Oxford, the London School of Economics, Princeton, Dartmouth and Harvard...
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Recent research suggests that regularly seeing good friends in the local park will bring a greater boost to mental health than having a shiny German automobile parked outside your retirement home. My candid advice to aging Americans would be to use your hard-earned cash to invest much more in friendships than in material items.
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The resilience of Western economies to recent oil shocks has been remarkable.
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What you have in the bank, according to the data, does not matter all that much. What really matters is the gap between what is there and what you think you ought to have. Millionaires can feel relatively poor.