While quality of life research has identified national wealth and economic growth to be major enhancers of subjective well-being (SWB) when comparing national differences, this study contends that instability is important in explaining why a certain population cannot feel happier and more satisfied than others. Five instabilities are evaluated: (1) inflation, (2) unemployment, (3) urban influx, (4) social protection policy, and (5) regime instability. Empirical testing by way of a cross-national design is based on 77 countries. Levels of “happiness” and “life satisfaction” as of 1999–2002, drawn from the World Values Survey compiled by Teorell et al. (2006), are used as dependent variables. The main findings are that inflation operates as a powerful obstacle to SWB, while the impact of instabilities in job markets, urban migration, social policy are marginal. Political stability serves as a co-determinant of life satisfaction but not of happiness, yet its effect is not substantial. This study concludes that among various instabilities, price perturbation most severely depresses the happiness of the human population.
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Tsai, MC. (2009). The Impact of Instability on Subjective Well-Being: A Cross-National Study. In: Møller, V., Huschka, D. (eds) Quality of Life and the Millennium Challenge. Social Indicators Research Series, vol 35. Springer, Dordrecht. https://doi.org/10.1007/978-1-4020-8569-7_8
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