The original term was first coined by a Genevan philosopher, writer, and composer, Jean-Jacques Rousseau. In 1750 he wrote – 'Money buys everything, except morality and citizens.
Later in the 1880’s the same phrase originally minted by Rousseau was then later re written as “money can’t by Virtue”. This phrase was used primarily by British Nobel Men when comforting fellow Nobel men that had fallen on tough financial times as a sort of comforting thought.
The first modern interpretation of the phrase was used by several U.S. steel companies in the 1930’s who often had worker encouragement posters with pictures of happy suburban families sitting around a picnic table with the big bold words “Money can’t buy happiness” above the family. I was unable to actually find a photos of this poster but I was informed of this when watching the documentary “Riding the rails during the Great Depression”.
Since the Mid 1950’s all the way to today the term “money can’t buy happiness” is a slogan used both by the 1% and optimistic workers coping with money inequality. While some might see the phrase as something to stitch into a pillow or post on social media as an “inspirational” quote. The sad truth is that the phrase promotes a dangerous lie that you don’t need money to survive in a capitalist society and that you should be happy with a lower income. While money can’t buy you respect or virtue, I know personally money could solve about 90% of my problems which would make me pretty happy.