What's the link between happiness and wealth? And could it be behind the rise of populism?
The rise of populism looks set to continue and likely escalate. Inequality in wealth and income (both between and within countries) is an important reason for this new political paradigm. Evidence suggests people’s happiness is a function of how they’re doing relative to others, so if they feel they’ve missed out they're more likely to vote against the status quo.
Forget the debates about nationality – the next ECB chief’s most important quality will be their ability to keep the show on the road in the next crisis.