In:
Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook, Walter de Gruyter GmbH, Vol. 54, No. 1 ( 2013-06), p. 15-35
Abstract:
In this paper we present new quantitative results on the linkages between absolute income levels, relative incomes, income inequality, and attitudes towards redistribution in a large sample of countries over the past 30 years. While we find that absolute income levels have a significant but very small effect on well-being, we find that relative incomes matter much more. In addition, we find that preferences for inequality are a significant driver of well-being. Lastly, we observe that overall inequality has an additional negative impact on well-being in a country in all three country-groupings. Taken together, this suggests that inequality has a rather strong negative impact on well-being. In fact, depending on the context, reducing inequality can do more to promote subjective well-being than increasing economic growth.
Type of Medium:
Online Resource
ISSN:
0075-2800
DOI:
10.1524/jbwg.2013.0002
Language:
English
Publisher:
Walter de Gruyter GmbH
Publication Date:
2013
detail.hit.zdb_id:
2464394-4
detail.hit.zdb_id:
220561-0
detail.hit.zdb_id:
2512544-8
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