Happiness and Hardship : Opportunity and Insecurity in New Market Economies

Russia. They find that the socio-demographic determinants of ""happiness""Â-such as the effects of age and unemploymentÂ-are very similar to those in the U.S. and Europe. They also find that relative income differences have important effects on how individuals assess their well being. Those in the middle or lower middle of the income distribution are more likely to be dissatisfied than are the very poorest groups. Third, the authors find that volatility in income flows can have negative effects on perceived well being, even among upwardly mobile individuals. Finally, the authors explore the relationship between social capital and mobility. They distinguish between participation driven by economic necessityÂ-such as soup kitchensÂ-and voluntary participation in civic organizations. They find that different objectives underlying civic participation can result in different effects on individual mobility rates, on perceived well being, and on aggregate growth. An [Publisher's text]