Washington: Psychological therapy could be 32 times more cost effective in boosting happiness than simply obtaining more money, according to a study.The research by the University of Warwick and the University of Manchester has obvious implications for large compensation awards in law courts but also has wider implications for general public health.
The study also helps to highlight how relatively ineffective extra income is at raising well-being.The research also has important implications for the way in which “pain and suffering” is compensated in courts of law – financially.It suggests that this is an inefficient way at repairing psychological harm following traumatic life events and that a more effective remedy would be to offer psychological therapy.“Often the importance of money for improving our well-being and bringing greater happiness is vastly over-valued in our societies. The benefits of having good mental health, on the other hand, are often not fully appreciated and people do not realise the powerful effect that psychological therapy, such as non-directive counselling, can have on improving our well-being,” said Chris Boyce, University of Warwick researcher.The study is published online this week at: Health Economics, Policy and Law. ANI
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