The key factor is whather or not you have a lot of money compared to those around you. People can be quite satisfied with their salaries,for example,until they find out that their peers make more. This purchasing habits as others around us (or "keeping up with the Joneses",as the common expression goes) turns life into a neverending competition. Say Firebaugh, "Rather than promoting overall happiness,continued income growth could promote an ongoing consumption race where individuals consume more and more just to maintain a constant level of happiness.