Happy People in Russia: The Role of Economic and Social Capital

Abstract

Amid conditions of global instability in recent years, approximately one-tenth of the residents of Russia consistently report high levels of subjective well-being. The aim of this article is to analyze the socio-demographic characteristics of the “happy and satisfied” segment of Russians and the influence of economic and social capital on their high level of affective and cognitive components of subjective well-being. This study is based on data from the Russia Longitudinal Monitoring Survey – Higher School of Economics (RLMS-HSE), with surveys conducted from 2016 to 2020. For the purposes of analysis, a stable segment of "fully satisfied with life" and "very happy" Russians (10–12% of 5–6 thousand respondents annually) was selected from the sample array. Economic capital in the study is measured through indicators such as absolute income, assessment of material well-being and remuneration, and perception of economic inequality, while social capital is measured through the structure, intensity, and quality of social connections and the nature of group identity. The analysis of the empirical data shows that people who are fully satisfied with life and happy are aged 25–34, married, have children, and possess average incomes. Low incomes are associated with subjective disadvantage, but for maximum happiness and life satisfaction, it is quite enough to have an average income level. Additionally, the cognitive component of subjective well-being assessments is more related to material and financial factors than the affective component. It is demonstrated that high levels of subjective well-being are more influenced by parameters of social, rather than economic, capital. Representatives of the predominantly happy segment of Russians communicate more frequently with family members and friends, care for young children or grandchildren, and feel a sense of belonging to broader social communities (professional, national, or territorial).