Money doesn’t make you happy, but giving it away does. This is the theme of an audio lecture given by Harvard Business School Professor Mike Norton at the Stanford Center on Social Innovation’s conference, Small Steps, Big Leaps: The Science of Getting People to Do the Right Thing. Norton discusses his research on how much money a person must spend, and under what conditions, in order to experience an increase in happiness and well-being. He also focuses on practical applications of his knowledge, strategizing creative ways for companies to engage in philanthropy and to encourage their employees to donate money.
Mike Norton is an associate professor of business administration in the marketing unit at Harvard Business School. After earning a BA in Psychology and English from Williams College and a PhD in Psychology from Princeton University, he was a fellow at the MIT Media Lab and at MIT’s Sloan School of Management. His research focuses on consumer behavior, consumer psychology, decision-making, nonprofits, and social enterprise.