Could this be related to the rising level of inequality in happiness levels in Asia? (See the graph on page 44 of the WHR2024). It can be assumed that the benefits of GDP growth are not evenly distributed, and increasing inequalities trigger frustration and a decrease in well-being in the majority of the population (since to a certain extent, the sense of welfare is relative).
This is how Our World in Data explains a similar phenomenon in the US:
“Income inequality in the US is exceptionally high and has been on the rise in the last four decades, with incomes for the median household growing much more slowly than incomes for the top 10%. As a result, trends in aggregate life satisfaction should not be seen as paradoxical: the income and standard of living of the typical US citizen have not grown much in the last couple of decades.”
Yeah rising inequality is a good guess, thank you – the OWID chart also shows the US experiencing the same trajectory direction as India (declining average LS despite rising GDP per capita). I suppose one way to test this hypothesis is to see if China had inequality rise significantly as well in the 2011-23 period, since it had the expected LS-and-GDP-trending-up trajectory. Probably a weak test due to potential confounders…
Could this be related to the rising level of inequality in happiness levels in Asia? (See the graph on page 44 of the WHR2024). It can be assumed that the benefits of GDP growth are not evenly distributed, and increasing inequalities trigger frustration and a decrease in well-being in the majority of the population (since to a certain extent, the sense of welfare is relative).
This is how Our World in Data explains a similar phenomenon in the US: “Income inequality in the US is exceptionally high and has been on the rise in the last four decades, with incomes for the median household growing much more slowly than incomes for the top 10%. As a result, trends in aggregate life satisfaction should not be seen as paradoxical: the income and standard of living of the typical US citizen have not grown much in the last couple of decades.”
Yeah rising inequality is a good guess, thank you – the OWID chart also shows the US experiencing the same trajectory direction as India (declining average LS despite rising GDP per capita). I suppose one way to test this hypothesis is to see if China had inequality rise significantly as well in the 2011-23 period, since it had the expected LS-and-GDP-trending-up trajectory. Probably a weak test due to potential confounders…