The period 1920 to 1941 is Kenya's most famous period , punctuated by the Happy Valley lot with their scandalous lifestyles of wife swaps and drug abuse. The period ended with the death of Lord Errol: we still do not know who killed him. That was the social life of the happy valley. This paper analyzes the economic part of the happy valley. How did the settlers put together the factors of production ? Did they make money? What happened after their departure ? Is the valley still happy ?