This is the true value to your new job. Hopefully your communte will also be less stressful.
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Sure, we have more money relatively, but inflation dictates that.
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An Economist wrote that article. Trust me, they are using inflation-adjusted 'real' dollars.
They are saying that Japan has 4 times more purchasing power in the late 80s compared to 1960, yet measures of Happiness did not show an increase.
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Happiness is fleeting anyways, it changes like the wind.
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I think the 'Happiness' they measure has good correlation-over-time. (mentioned in the article) So, the thing they are measuring doesn't change quite like the wind in general. =)
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Because, it is obvious to me that I would rather have the income to take care of my family if needed, watch the game on a wide screen TV in HD than on a B/W with an antaena.
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'take care of your family': I bet one year of your income would be enough to buy enough cheap food to last decades, and you could buy a 700-1000 square foot house that would fit 4 or 5 people fine: it's flaw would be it wouldn't be up to the standards everyone else sets, and that would make you less happy.
Higher quality food (not healthier, but more expensive) is I suspect an example of conspicuous consumption: valueable because of your awareness of it and comparing to others. So might be a widescreen color TV compared to a B&W TV. Might not be, but they might.
People gathered around the radio, or watched the TV, with as much joy as you watch your widescreen right now. Having a widescreen TV while others do not, or having the widescreen that you have been looking forward to, gives joy, but the joy comes from (in part if not in whole) how the two states compare.
Or so goes the thesis of the article.
As an aside, I don't recommend people put this into practice willy-nilly. It is quite possible the lack of happiness caused by having less than your neighbours is real, and it will make you unhappy if you give up your conspicuous consumption. It might be worth a try dispite this.