And second, the idea that the distribution of income is irrelevant is not supported by the scholarly evidence. It seems that relative position does matter. Health, well-being and satisfaction appear to be heavily influenced by the ways in which economic resources, prestige and social position are distributed. In more unequal societies, human well-being and quality of life appear to be lower, for a variety of reasons needing more research. The reasons may not turn out to be so very complicated.
Humans are social.
We judge our own situations very much in comparison to others around us. It is not surprising that people experience less stress, more peace of mind and feel happier in an environment with more social cohesion and more equality. Perhaps it's time to make that conclusion a fundamental basis of our economic and social policy. Juliet Schor is an economist and senior lecturer on women's studies at Harvard University and the author of The Overspent American. From 1983 to 1998, the stock market grew a cumulative 1,336 percent.