Happiness depends on mental health, not money: study

It's official! Money does not make one happy, according to a new report that blames failed relationships and mental illness on human misery.
Researchers at the London School of Economics (LSE) found that eliminating depression and anxiety would reduce misery by 20 per cent compared to just five per cent if policymakers focused on eliminating poverty.
On average people have become no happier in the last 50 years, despite average incomes more than doubling, said Richard Layard, who led the report called Origins of Happiness that was presented at a conference in London.
"Tackling depression and anxiety would be four times as effective as tackling poverty," he said.

The report supports the arguments put forward by Layard over several decades that social and psychological factors are more important to the wellbeing of individuals than income levels.
State-run organisations, including schools, must become more focused on tackling anxiety and mental health issues, researchers said.
"This evidence demands a new role for the state - not 'wealth creation' but 'wellbeing creation'," Layard was quoted as saying by 'The Guardian'.
"There is also powerful evidence that schools have a big impact on children's emotional health, and which school a child goes to will affect their emotional wellbeing as much as it affects their exam performance," said Layard.