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TradeBriefs Editorial Bridgewater Investments Founder Ray Dalio: Invest in Idea Meritocracy

Work hard, become successful, then you'll be happy. At least, that's what many of us were taught by our parents, teachers and peers. The idea that we must pursue success in order to experience happiness is enshrined in the United States' most treasured institutions (the Declaration of Independence), beliefs (the American dream), and stories (Rocky and Cinderella). Most people want to be happy, so we chase success like a proverbial carrot on a stick - thinking that contentment lurks just the other side of getting into college, landing a dream job, being promoted or making six figures. But for many chasers, both success and happiness remain perpetually out of reach. The problem is that the equation might be backwards.

Our hypothesis is that happiness precedes and leads to career success - not the other way around. In psychological science, 'happiness' relates to 'subjective wellbeing' and 'positive emotions' (we use the terms interchangeably). Those with greater wellbeing tend to be more satisfied with their lives, and also to experience more positive emotions and fewer negative ones. Research suggests that it's these positive emotions - such as excitement, joy, and serenity - that promote success in the workplace.

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