The PsyBlog says:
“Materialism is a dirty word. It also gets a bad rap in psychology. Studies consistently show that people who agree with statements like ‘You will buy things just because you want them,’ tend to be:
- Less satisfied with life,
- Less happy,
- More likely to be depressed,
- More likely to be paranoid,
- More likely to be narcissistic.
But, just like studies examining the connection between success and happiness, many of the findings are correlational. As a result we can’t say for sure that materialism causes all these things, only that they’re associated. So, for better evidence, cue the experiment …”
You can read more here.