This has all the scientific rigor of a "which Disney princess are you?" quiz.
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Happiness can be studied in a lot of ways, and none of them is complete or accurate. Momentary happiness is possible in a miserable life and vice versa.
I suspect this survey does tell us something over time, if methodology is stable.
There is no objective measure where the median American is better off than the median European.
I’m saying this as a born and bread American citizen who is fortunate enough to be on the better side of the economic divide.