“Start giving your money and time away: New research shows you’ll be happier for it. Americans who describe themselves as “very happy” volunteer an average of 5.8 hours per month. Those who are “unhappy”? Just 0.6 hours. This is just one of the findings in The Paradox of Generosity, a new book by sociologists Christian Smith and Hilary Davidson presenting the findings of the Science of Generosity Intiative at Notre Dame.            The result is among the most comprehensive studies of Americans’ giving habits ever conducted. Other findings include lower depression rates among Americans who donate more than 10 percent of their incomes.  And giving away money isn’t the only way to reap the psychological rewards of generosity: Americans who are very giving in relationships—being emotionally available and hospitable—are much more likely to be in excellent health (48 percent) than those who are not (31 percent).

An income of $32,400 (£25,600) per year would allow someone to be among the top 1% of income earners in the world.  The term “top 1 percent” of global income may sound like an exclusive club, but it’s one to which millions of Americans (and Brits) belong. It’s a reminder of just how prosperous developed countries are compared to the vast majority of other people who share our planet.