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This paper investigates the influence of the economic, social, and cultural variables on life satisfaction in Asia and Europe. The second section sets a unifying theoretical framework for all three domains by defining life satisfaction as a function of aspirations and expectations which in turn are affected by micro- and macro-level variables. On the micro-level, economic capital is a resource for the actor. On the macro-level, societal economic capital improves the opportunity structure for the individual under certain conditions. Thus, economic capital on both levels positively affects the perceived chances of fulfilling aspirations. As long as the latter remain unchanged life satisfaction will increase. Social and cultural factors partially follow the same logic, as indicated by the terms social and cultural capital. Under a set of assumptions, the hypotheses derived are that personal and societal economic capital, national pride and national integration, religiosity, and societal religious integration, all positively affect the life satisfaction of the individual. A multi-level analysis of data from the European Values Study and the AsiaBarometer confirms the micro-level hypotheses. The economic macro-level indicators also display the theoretically expected positive effect on life satisfaction in the multivariate analysis of Asian and European data. By contrast, the direct cross-level effects of a society’s national integration and particularly of religion do not become significant in Europe, yet they are highly significant in Asia. This strong influence of the social and cultural context in Asia can be interpreted in two different ways. [ABSTRACT FROM AUTHOR]

Latest developments in modern societies have altered living circumstances. Upcoming insecurities concerning employment and family relationships make life more and more incalculable. Especially young adults throughout the modern world are forced to rethink their life concepts and to desist from the lives of former generations. As difficulties to achieve a successful life increase, one could assume that the young are confronted with the impossibility of feeling happy and satisfied with their lives anymore. Yet, latest social surveys prove wrong. Although increasing unemployment, lower net income and single parenthood make life more difficult for the young, they still enjoy very high subjective quality of life in comparison to the older population. Throughout the paper I argue that it is not the objective conditions that make young adults (15–29 years old) feel overwhelmingly happy. Looking for other sources of explanation of high quality of life among people aged 29 or below, I argue for indicators of social embeddedness as being influential on their assessment of life. But again, the proportion of explained variance is smaller compared to older people. With the help of empirical data taken from the European Social Survey I highlight the differences in life circumstances between the young and the total population. Concerning occupation, habitation (kind of inhabited household) and financial situation, most of the young live under different situations compared to the adult world. But surprisingly, the rates of perceived high quality of life among the young do not vary to such a large extent as among the adults. I show that young adults, often damned to fail social demands because of their withdrawal from social life, are still the most happy in modern (more and more individualizing?) societies. But it gets more difficult to account for the reasons of their happiness. [ABSTRACT FROM AUTHOR]