An interesting finding:
But for young workers, seeing others around them do well can actually make them happy by providing them with aspirations, according to a new report.
Economists believe that workers under the age of 45 get high levels of satisfaction from seeing their peers earn more than them, because they think they have similar chances of success.
But the effect has a time limit: for those over the age of 45, comparisons with high-fliers can lead to misery, because there is less time to “catch up” .
If you think there\’s still time for you to make it then you\’re quite happy with the evidence that you can make it. If you think you\’ve missed your chance then you\’ll be unhappy about it.
The joy of the finding is of course that we can now reject those who whine about income disparities as simply people who are convinced they\’ve missed their chance.