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...neighborhood, the more status he had and the happier he was regardless of how much he made in dollars (or, in the study's case, pounds). "What we're trying to do is understand and explain why, over 30 to 40 years, the large economic growth we have experienced hasn't made us any happier," says Boyce. "If absolute income matters, as we increased our income, everybody should get happier at a national level, but we don't seem to. So what we are showing is that in terms of life satisfaction, rank is a better predictor than absolute wealth...
...reason: Hale's company is in good financial shape and part of a booming industry. Even though the U.S. hasn't seen a new nuclear power plant since 1996, there are now dozens on the drawing board, and the Obama Administration has announced loan guarantees to build new plants. United Controls is also seeing a spike in business from overseas countries such as Korea, Taiwan, Spain and Brazil. In other words, coming out of the recession, Hale's firm is a commodity in short supply: a top-notch credit risk...
...chaos of the Cultural Revolution, and less than 15 years down the road from a nasty bout of inflation - consumer prices rose a staggering 21% in 1994 - the Chinese regard real estate as vital security (what Tsinghua's Chovanec calls the "bar of gold" syndrome). Yang says he hasn't even tried to rent out two of his three apartments because "it's not that important to gain income from them; there is security in just owning them. They are paid for, and I know that if I ever get into any kind of economic trouble I can sell them...
...personal rivalries and squabbles over policy direction. The partisan bickering has grown so bad it threatens complete inertia. "The new government [has] had a catastrophic start," Gerd Langguth, author of a biography of Chancellor Merkel, tells TIME. "There's a cacophony of ideas and egos, and Angela Merkel still hasn't come up with a vision for her new government." (See video: "Global Business Trips: Germany...
...Sinai's people are mostly Bedouin - a formerly nomadic Arab people with a distinct culture and dialect - though Mwafi is unsure of their exact percentage of the population. The Bedouin in Sinai are Egyptian and have been for as long as Sinai has been Egyptian - but that hasn't quieted a modern history fraught with tension and mutual distrust. Cairo has received sharp local criticism in recent months for its construction of a new subterranean barrier along Egypt's Gaza border, meant to cut off smuggling. Analysts say the heightened crackdown on the lucrative underground trade, coupled with years...