Chris Dillow spent eight years as an economist with one of Japan's largest banks before becoming a columnist at InvestorsChronicle.couk. Recent Posts The Real Question About Inheritance Tax — Can Rich Kids... "A rise in other people's income hurts your happiness" said Richard Layard (Happiness, p46). "The consumption of the rich reduces everone else's satisfaction" say Wilkinson and Pickett in The Spirit Level (p222). Unusprisingly, then, some that inequality reduces happiness. Some new research, however, suggests this needs qualifying. Michael Nolan and colleagues estimate that our peers' income does indeed reduce our own life-satisfaction. But only among the over-45s. Among younger people,...
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