It turns out trying to keep up with the Joneses can lead to your own death.
The more money your neighbors make, the more likely you are to take your own life. These findings come from a new paper published at the San Francisco Federal Reserve titled “Relative Status and Well-Being: Evidence from U.S. Suicide Deaths.” According to the results, your risk of suicide increases by 4.5 percent if your own paycheck is less than 10 percent of your county’s average income.
When looking at income levels and increased risk of suicide, Fed researchers found that $34,000 is the tipping point for dramatic increases in rates of suicide. Those who earn less than $34,000 see an increased risk of suicide of about 43 to 50 percent. Meanwhile, those with incomes between $34,000 and $102,000 increase their risk of suicide by only 10 percent. It’s not surprising to hear that those who are unemployed or unable to work due to disability face higher rates of suicide. Those who are unemployed increase their risk of suicide by 72 percent.
When considering the nation as a whole, low-income individuals tend to have a higher risk of suicide. This would lead you to believe that low-income counties have a higher risk of suicide, yet the Fed study shows the opposite. Since high-income counties tend to have larger disparities in income, wealthier counties—not poorer—often see an increased risk of suicide when factoring income of victims relative to their peers. Another way to think of it may be the more you compare your wealth to your neighbors, the harder it is to feel content with what you have.
Marx long ago wrote that "A house may be large or small; as long as the neighboring houses are likewise small, it satisfies all social requirement for a residence. But let there arise next to the little house a palace, and the little house shrinks to a hut. The little house now makes it clear that its inmate has no social position at all to maintain."
The more money your neighbors make, the more likely you are to take your own life. These findings come from a new paper published at the San Francisco Federal Reserve titled “Relative Status and Well-Being: Evidence from U.S. Suicide Deaths.” According to the results, your risk of suicide increases by 4.5 percent if your own paycheck is less than 10 percent of your county’s average income.
When looking at income levels and increased risk of suicide, Fed researchers found that $34,000 is the tipping point for dramatic increases in rates of suicide. Those who earn less than $34,000 see an increased risk of suicide of about 43 to 50 percent. Meanwhile, those with incomes between $34,000 and $102,000 increase their risk of suicide by only 10 percent. It’s not surprising to hear that those who are unemployed or unable to work due to disability face higher rates of suicide. Those who are unemployed increase their risk of suicide by 72 percent.
When considering the nation as a whole, low-income individuals tend to have a higher risk of suicide. This would lead you to believe that low-income counties have a higher risk of suicide, yet the Fed study shows the opposite. Since high-income counties tend to have larger disparities in income, wealthier counties—not poorer—often see an increased risk of suicide when factoring income of victims relative to their peers. Another way to think of it may be the more you compare your wealth to your neighbors, the harder it is to feel content with what you have.
Marx long ago wrote that "A house may be large or small; as long as the neighboring houses are likewise small, it satisfies all social requirement for a residence. But let there arise next to the little house a palace, and the little house shrinks to a hut. The little house now makes it clear that its inmate has no social position at all to maintain."
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