Survey data confirms: It really stinks being poor

Pew Research recently came out with a fascinating study across a number of countries asking individuals about life satisfaction. The results are pretty interesting, and I’d recommend taking a look at the summary here.

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One of the most intriguing charts that Pew presents (see above) is a scatter plot of countries, with average rating of life satisfaction on one axis and per capita GDP on the other. Not surprisingly, there’s a positive correlation between income and satisfaction, meaning that people in wealthier countries tend to be more satisfied with their lives than people in poorer countries. But we also see that the very wealthy countries (like the United States) aren’t significantly more satisfied than the middle-of-the-pack countries, echoing previous research on this topic. In fact, the country that rates highest in terms of life satisfaction is Mexico, where per capita GDP is about $10,000 per year, roughly a fifth that of the US.

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