Why higher pay hasn’t made adults feel richer | FT #shorts

Why higher pay hasn't made young adults feel richer. Are young people today really doing worse than their parents financially. The counterargument from boomers often centers on the fact that millennials and Gen Z earn more than their parents did at the same age.Case closed. Or is it. The problem is that this uses the wrong measure.Research has long shown that what shapes people's satisfaction isn't so much their paycheck as where they sit relative to others like them, both today and in the past. And here so ...