Are Rich People Happier than Poor People?

New York Times ^ | April 22, 2008 | Justin Wolfers

[expat_panama]

[snip] It sure seems like the rich are more likely to be “very happy” than the rest of us. Is this a big effect? In 2005, Robert Frank argued:
When we plot average happiness versus income for clusters of people in a given country at a given time, we see that rich people are in fact much happier than poor people.
It’s actually an astonishingly large difference. There’s no one single change you can imagine that would make your life improve on the happiness scale as much as to move from the bottom 5 percent on the income scale to the top 5 percent.
Let’s go ahead and draw the plot that Frank envisions, using all of the data from the 2006 survey:

Here’s the key point:
By comparing rich and poor people, we estimate a happiness-income gradient that has a slope that is similar to what we saw when we compared rich and poor countries.
OK, that’s the United States, what about other countries? We estimated the well-being-income gradient for over 100 countries in the Gallup World Poll. Rather than show you dozens of separate coefficients, we’ll let a picture tell the story (and let me admit, I love this graph).

... [ship] ... it stands directly at odds with a key claim of Easterlin (see p.106 to 107):
… the happiness difference between rich and poor countries that one might expect on the basis of the within-country differences by economic status are not borne out by the international data.
[snip]

[elcid1970]

“Soak the rich!”

For a long time I pictured a rich guy in a top hat and tuxedo being drenched by someone hurling a bucket of water. Later, I learned the intent of the slogan and thought it should be “squeeze the rich” or “tax the rich”.

“There’s nothing wrong with being poor, as long as you’ve got lots of friends!”

Sophie Tucker: “I’ve been poor, and I’ve been rich. Rich is better.”

F. Scott Fitzgerald: “The rich are very different from you and me.”

Ernest Hemingway: “Yes, they have more money.”

[jaydubya2]

[ottbmare]

Rich people tend to pretend all is well but that is because they are snobby and no rich person ever wants to hear of other people’s problems, probably because they don’t want to face the fact that they, too, have problems.

Oooooh, what a nasty attack envy you have going on there. You sound like a liberal. "No rich person ever wants to hear of other people's problems"? Hm, whom do you think gives the money to put up cancer research wings at medical centers? It's sure-God not the poor or the middle class; it's sympathetic rich people.

You seriously think all rich people are snobby? Perhaps some are. And some middle-class people are snobby, and even some poor people have things to be snobbish about. Snobbery is a character flaw, not a condition of income level.

[CodeToad]

Get real. I never conveyed that. That is just your take. Giving money has nothing to do with caring about a person’s needs. If you knew anyone who gave such monies you’d know that.

[Harmless Teddy Bear]

Yes.

Money may not buy happiness but it can buy comfort.

If you are comfortable you will be happier then if you are uncomfortable. If you know you have food to eat, clothes to wear and a warm, safe, dry place to sleep and the surety that this is unlikely to change you will be happier then if you don't have that knowledge.

[Maury]

Money may not buy you happiness, but it feels a lot better crying in the Ferrari than the Yugo. ;)

[ottbmare]

Sugar, I grew up with people who gave money like that. To say that they're unsympathetic or uncaring is a foolish blanket statement; how can you possibly categorize an entire group, consisting of hundreds of thousands of people? Unless you know every one of them and know what's going on in their hearts, you can't say how sympathetic or caring they all are. That is for God to know and judge.

And, BTW, you did absolutely convey that. Allow me to quote:

"Rich people tend to pretend all is well but that is because they are snobby and no rich person ever wants to hear of other people’s problems . . ."

--Mr. C. Toad, April 22, 2008

That's not just "conveyed," it's explicitly stated. You couldn't have made your views more clear than that.

I am certainly willing to concede that the people who have old money in general dislike whining, and they try to keep a stiff upper lip--not because they are snobbish or uncaring, but because they believe it is the course of honor not to engage in stupid emotionalism. Nobody except liberals likes an emo.

[CodeToad]

So now you’re stereotyping rich people. Know any?

[RichInOC]

Not necessarily. But they can buy a more pleasant grade of unhappy.

[Cementjungle]

You can’t measure happiness without first measuring expectation.

[Rebelbase]

Many people think those who have expensive homes, drive nice cars, take exotic vacations are rich. The reality is many of those folks are in debt up to their eyeballs and are miserable.

Those who live a debt free lifestyle, be it in modesty or wealth, are the happiest IMO.

[ottbmare]

The circumstances in which I grew up and live today mean that I know quite a few rich people.

It is clear, however, that linear thought it not your strong suit, so I will retire from this debate, leaving you to your misconceptions. Good night.

[Appleby]

Even if they do not have expensive European sports cars?

[Appleby]

It’s nice to have a yacht. It’s better to have a friend who has a yacht.