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...understand why, researchers at the University of Warwick and Cardiff University decided to break down how individual people evaluate their income. What does wealth mean to people? Previous work has suggested that people tend to value their own wealth more - and are happier - when it compares favorably to everyone else's. The so-called reference-income hypothesis holds that it's not simply how much money you make that contributes to satisfaction, but how much more money you make than, say, the national average. The higher your salary than the norm, the happier you tend to be. That could explain...

Author: /time Magazine | Title: Study: Money Isn't Everything — But Status Is! | 3/23/2010 | See Source »

...predictor of happiness than absolute wealth. The higher a person ranked within his age group or 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...

Author: /time Magazine | Title: Study: Money Isn't Everything — But Status Is! | 3/23/2010 | See Source »

Your cover story claims that "Europe's all at Sea" over immigration [March 1]. Well, as I understand it, things aren't particularly (Rio) Grande in the U.S. either. Huw Roberts, CREIGIAU, WALES...

Author: /time Magazine | Title: European Immigration | 3/22/2010 | See Source »

...rules. Add in worries that Berlin could end up bailing Greece out of its own financial predicament (so far Merkel's response to calls for help has been a firm nein, though she has proposed a new European Monetary Fund that could help in the future) and you can understand why Germans are disgruntled...

Author: /time Magazine | Title: Germany: Tensions at the Top | 3/22/2010 | See Source »

...White House Chief of Staff Rahm Emanuel, who served as Pelosi's deputy for five years. "But on the other hand I can think of a thousand different instances where it was never needed because of the work that was done beforehand by listening and hearing and having people understand and finding what was important to people and making that part of the solution, the resolution basically...

Author: /time Magazine | Title: Getting Her Way: Pelosi's Powers of Persuasion | 3/20/2010 | See Source »

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