TODAYonline has just published an opinion piece by Teo You Yenn and Ng Kok Hoe of our research team, exploring what it means to set a baseline for meeting needs:
A key aim in the MIS approach is to translate needs which may initially appear abstract — needs for independence or connection, for example — into concrete things which can be clearly and explicitly budgeted for.‘S$1,379 a month needed for basic needs? This is how Singapore’s seniors agree on this baseline‘ by Teo You Yenn and Ng Kok Hoe (TODAYonline, 4 June 2019)
The oft-repeated cliché that “money cannot buy happiness” may well be true in its most literal and simplistic conception, but our participants’ deliberations demonstrated that there are many concrete and material things — which require specific sums of money — that are needed to meet people’s needs.
While these material things cannot guarantee anything as subjective as “happiness”, they are deeply connected to well-being and important preconditions to happiness.