From an Inter-American Development Bank press release:

“People in countries that have experienced fast economic growth in recent years are less satisfied with their lives than people in nations with slower growth rates, according to a new study by the Inter-American Development Bank (IDB)….

“Satisfaction in Trinidad and Tobago, Chile, Peru and Ecuador, countries with the fastest growth in the region in recent years, is lower than in nations such as Guyana, El Salvador, Paraguay and Guatemala, whose economies showed little or no growth….

“Satisfaction rates are not necessarily highest in the wealthiest countries or in those with the best social services or the fastest growth. Countries in the region with high per capita income, such as Brazil, Argentina, Chile and Uruguay showed moderate levels of life satisfaction, trailing countries with lower per capita income such as Guatemala, Colombia and Jamaica.

“‘Overall, Latin Americans are satisfied with their lives, but interestingly, people in some of the poorest countries are the most optimistic while citizens of some of the most-developed countries are the most pessimistic,’ said IDB President Luis Alberto Moreno. ‘Not surprisingly, people with higher incomes are more satisfied with their lives than those with lower incomes, but economic growth actually breeds discontent rather than greater happiness, at least in the short run.’”