Money and happiness: the income-happiness correlation is higher when income inequality is higher.

ABSTRACT: Has the income-happiness correlation changed over time? If so, what predicts such changes? We tested these questions in diverse economic, political, and cultural contexts. Drawing on nationally representative data, we found that the income-happiness correlation has increased in the USA since 1972, as GDP per capita and income inequality increased (Study 1). Study 2 examined an income-life satisfaction correlation in nationally representative surveys between 1978 and 2011 in Japan. Unlike in the USA, there was no clear increase in the income-life satisfaction correlation over time. We next examined the income-life satisfaction correlations in 16 European countries and found that on average the income-life satisfaction correlation has increased since 1970, and it was particularly high in yea

SUBMITTER: Oishi S 

PROVIDER: S-EPMC9802463 | biostudies-literature | 2022 Nov

REPOSITORIES: biostudies-literature