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Originally Posted by CorsiHockeyLeague
I'm pretty sure the hypothetical scenario they're using isn't society wide. It's not like the study is intended to be about the buying power of money.
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Huh? It's world-wide:
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Originally Posted by Slava
There are a lot of studies that prove this. To me the most interesting is one that asked people whether they would rather be in a world where everyone earned $70k a year and they earned $100k, or one where they earned $125k and others earned $200k. People choose the first option most often.
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The most logical choice is the one where you have more buying power. I think most people understand that making more than everyone else is better financially than making less than everyone else. You can't logically separate buying power from income, and if you made the caveat that the market would not react to the incomes, then everyone would choose to make more money regardless of what others were making.