In the same vein as David's fascinating post below, here is a refreshingly accurate article on the relationship between wealth and self-reported happiness around the world from the New Scientist titled "Wealthy Nations Hold the Keys to Happiness." The occasion of the article is the publication of a world map by Adrian White, a Ph.D. psychology student at the University of Leicester, that vividly pictures self-reported life satisfaction around the world. The relationship between wealth and the percentage of people who say they are happy leaps out pretty clearly.
According to the analysis, a country's happiness is closely related to its wealth, along with the health and education levels of its people. It is no surprise that people spending heavily on healthcare, such as US citizens, rank highly, says White, as this investment increases life expectancy and general wellbeing.
"There is a belief that capitalism leads to unhappy people," he says. "However, when people are asked if they are happy with their lives, people in countries with good healthcare, a higher [earnings] per capita, and access to education were much more likely to report being happy."
Large industrialised countries fared well in the new analysis, with the US and UK coming in at 23 and 41, respectively, out of 178 nations.
This stands in contrast with the recently released "Happy Planet Index" from the New Economics Foundation think tank, which placed Columbia and Honduras high up. The Happy Planet Index ranked each country according to the reported happiness level of its people divided by the amount of the world's resources they consume.
"In the west we have the tendency to be the 'worried well'," White says. Too true.
I like to emphasize that self-reported subjective life satisfaction is a far cry from objective well-being, which includes non-subjective factors like health, longevity, the development of basic human capacities, and more. Complaining about the misery of life under capitalism is a sport for privileged people who, thanks to capitalism, are doing so objectively well that they can spend their days doing things like, say, getting a Ph.D. in American Studies from Berkeley and writing books about how Zombie movies reflect the horror of capitalism.
Now, I think most of us can agree that even if capitalism does give us boneheaded essays on the anti-capitalist implications of shambling, undead brain-eaters, all this health, wealth, and happiness probably makes it a good deal anyway.