Rising Income Inequality During the Great Recession Had No Impact on Subjective Wellbeing in Europe, 2003–2012

M. D. R. Evans (), Jonathan Kelley, S. M. C. Kelley and C. G. E. Kelley
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M. D. R. Evans: University of Nevada
Jonathan Kelley: University of Nevada
S. M. C. Kelley: University of California, Berkeley
C. G. E. Kelley: American Institutes for Research

Journal of Happiness Studies, 2019, vol. 20, issue 1, No 12, 203-228

Abstract: Abstract The Great Recession increased income inequality by an average of 6%. We assesses the impact of that on subjective wellbeing (happiness, life satisfaction). Data: European Quality of Life survey, 25 representative national samples at three time points, over 70,000 respondents. Analysis: variance-components multi-level models controlling for GDP per capita (an essential point) and individual-level predictors. Findings: income inequality has no statistically significant impact before, during, or after the Great Recession. Instead (contrary to much previous research) a straightforward individualistic utilitarian–materialist understanding is supported: money does increase wellbeing but inequality itself—the gap between rich and poor—is irrelevant.

Keywords: Subjective wellbeing; Life satisfaction; Happiness; Utility; Great Recession; Inequality; Europe; Income; GDP per capita; Multi-level models; Well-being; Quality of life; Socioeconomic development; Income inequality; Poverty (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (6)

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DOI: 10.1007/s10902-017-9917-3

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