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Why Europeans Fear the Rich.
Why Europeans Fear the Rich Alberto Alesina, Rafael Di Tella, and Robert MacCulloch, Inequality and Happiness: Are Europeans and Americans Different?, NBER Working Paper W8198, National Bureau of Economic Research, 1050 Massachusetts Avenue, Cambridge, Massachusetts 02138.
Economists Alesina and Di Tella of Harvard and MacCulloch of the London School of Economics looked at 22 years (1972-94) of the University of Chicago's General Social Survey and 19 years (1975-94) of the European Union's Euro-Barometer poll, and then correlated this polling data with statistics about inflation, unemployment, income, and murder rates. They conclude that "Americans are not affected by inequality while there is a well-defined negative affect in Europe."
In general, Europeans are more miserable than Americans, since 11.5 percent of Americans surveyed said they were "not too happy," while 19.6 percent of Europeans said they were dissatisfied with life. But in Europe, ...
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Source: HighBeam Research, Why Europeans Fear the Rich.