Fairly satisfied : economic equality, wealth and satisfaction

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Title: Fairly satisfied : economic equality, wealth and satisfaction
Authors: O'Connell, Michael F.
Permanent link: http://hdl.handle.net/10197/2535
Date: Jun-2004
Online since: 2010-10-26T14:20:00Z
Abstract: Research appears to demonstrate that economic variables are only marginally predictive of levels of social satisfaction. It was hypothesised that a greater association might be found between satisfaction and equality of income distribution rather than between satisfaction and size of income. The interrelationship between wealth (GDPpc), equality of income and mean satisfaction for fifteen EU states was assessed over a four year period (1995-1998). Equality of income was significantly and positively associated with mean satisfaction levels for all four years while wealth was significantly associated with mean satisfaction only in 1995. One possible interpretation is that egalitarian societies are more satisfying for their members, either because of greater social cohesion or because they have more challenging work opportunities for a greater proportion of individuals. However alternative explanations for the association of equality and satisfaction could only be ruled out when consistent data on equality is gathered over a longer period of time.
Funding Details: Not applicable
Type of material: Journal Article
Publisher: Elsevier
Journal: Journal of Economic Psychology
Volume: 25
Issue: 3
Start page: 297
End page: 305
Copyright (published version): 2003 Elsevier B.V.
Keywords: SatisfactionSubjective well-beingIncome distributionSocial processesEconomic determinismEqualityHappiness
Subject LCSH: Satisfaction--Economic aspects
Well-being--Economic aspects
Income distribution
DOI: 10.1016/S0167-4870(03)00010-2
Other versions: http://dx.doi.org/10.1016/S0167-4870(03)00010-2
Language: en
Status of Item: Peer reviewed
Appears in Collections:Psychology Research Collection

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