Wealth, Social Capital and Happiness: The Case of Status Sensitive People

Amnon Levy ()
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Amnon Levy: University of Wollongong, http://www.uow.edu.au/commerce/econ/who/index.html

Economics Working Papers from School of Economics, University of Wollongong, NSW, Australia

Abstract: Sensitivity of sincere social communication to economic status disparity is incorporated into the construction of sincere social-capital index. The consideration of this index leads to the depiction of the happiness-wealth relationship as an inverted U-shaped curve that peaks at a larger than the average personal wealth. The deviation of the happiness-maximizing wealth from the community average is positively related to the ratio of the rates of return on wealth and sincere social capital and is compounded by the actual and desired community sizes and by the minimum sincere social capital associated with becoming the community’s ultimate wealth holder.

Keywords: Economic status disparity; Community size; Social capital; Interpersonal communication; Happiness. (search for similar items in EconPapers)
JEL-codes: D01 D3 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-hap, nep-ltv and nep-soc
Date: Written

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