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Lumifer comments on Open Thread April 11 - April 17, 2016 - Less Wrong
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With wealth at least there is some data. There is a distribution of wealth in a given society and you can look up the quantile of any wealth value easily enough. But quality of life? To start with, it's not even a well-defined term as it is usually used as a catch-all bin for everything except money. I have no idea what a distribution of quality of life would look like.
Fair points. I think that when people complain about "quality of life" in finance they mostly mean working hours and (secondarily) stress and job security. Working hours, at least, are pretty readily quantifiable, though I don't think they're surveyed anything like as thoroughly as pay.