This is also incredibly heartening, because it means that all we need to do to get rid of poverty it point out to rich people how much happiness they are losing by living in a world full of poor people. Thus they’ll have an incentive to spend the resources necessary to make poverty go away.
Tabarrok casts some doubt on the negative externality of wealthy peers: http://www.marginalrevolution.com/marginalrevolution/2007/08/home-envy.html
I would say the revealed preference of migration supports him.
This is also incredibly heartening, because it means that all we need to do to get rid of poverty it point out to rich people how much happiness they are losing by living in a world full of poor people. Thus they’ll have an incentive to spend the resources necessary to make poverty go away.