Sydney - Good health, freedom of choice, political liberty, civil rights - these, along with high income, make Australians the most prosperous people in the world, found a study by the Dubai-based Legatum Institute ranking countries according to their prosperity.
The privately-funded think tank noted that there was no direct correlation between wealth and happiness. While it was true that income was a good indicator of wellbeing in very poor countries, earnings did not link with happiness in rich countries.
Study after study has downplayed money as a predictor of how we feel about our lives. It's a finding that comes as no surprise to Melbourne lawyer and academic Mirko Bagaric.