Are people with more discretionary income happier than those who live paycheck to paycheck? Maybe some, but not all. As it turns out, more is not always better or the prescription for a happy life. Ultimately, it seems that attainable dreams and hope are the true keys to long-term well-being and happiness, regardless of income level, because it's the belief in a better future that truly fuels contentment.

To explore the science of well-being, Harvesting Happiness Podcast Host Lisa Cypers Kamen speaks with Dr. Carol Graham, a senior scientist at Gallup, an author, and a senior fellow in the Economic Studies program at Brookings.

Carol analyzes income disparities between the affluent and impoverished, examining their happiness levels through the lens of what she terms 'the happy peasant and the miserable millionaire paradox.' She also presents statistics on the decline of mental well-being among US teens and how a loss of hope contributes to despair.

Carol Graham, PhD — Well-Being Science:

• The happy peasant and the miserable millionaire paradox. {3:10}
• How to find hope and optimism when despair seems imminent. {12:31}
• A lack of hope contributes to a decline in the well-being of teenagers. {20:59}

Meet Our Guest:

Carol Graham is a distinguished senior fellow in the Economic Studies program at Brookings, a College Park Professor at the University of Maryland, and a senior scientist at Gallup. An expert in well-being economics, she has authored influential books such as The Power of Hope: How Wellbeing Science Can Save Us from Despair (2023) and Happiness for All?... Unequal Lives and Hopes in Pursuit of the American Dream (2017). Her extensive research explores the links between well-being, inequality, and economic development, with publications in leading journals like Science and Health Affairs.

“When we do something to try and make a difference, that is an incubator for hope.” - Lisa Cypers Kamen

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