Happiness, equity theory, and why we tend to think that we should get what we deserve — and deserve what we get.

One of the most interesting and complicated issues within the study of happiness is the relationship between money and happiness. Although some folks seem content to say, “Money can’t buy happiness,” I think that relationship is a bit more complicated.

Because of my interest in this topic, I read Shira Boss’s fascinating book, Green With Envy. It was interesting in many ways – for example, she seeks to explode the taboo against talking about money, and provides several detailed accouts of people’s money problems, including her own. If you like the blog My Open Wallet, you’ll like this book.

I was most intrigued, however, by Boss’s brief discussion of equity theory - a phenomenon I’d observed in the world, without knowing the name for it.

Equity theory, according to Boss, is the psychological term for our tendency to feel uneasy when we have much more or much less than someone else, without knowing why. People generally have a belief that we get what we deserve – and deserve what we get.

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