This paper examines the relationship between satisfaction and income using data from the 2006 Gallup World Survey, which includes opinions on satisfaction with various aspects of life in 130 countries. The study finds a strong positive correlation between satisfaction and income, both across and within countries, challenging the Easterlin Paradox. However, a new paradox emerges: "unhappy growth," where faster economic growth is associated with lower levels of satisfaction, particularly in material domains and in richer, more urban societies. At the individual level, while higher incomes generally lead to greater satisfaction, an increase in the income of an individual's social group can have the opposite effect. This conflictive relationship between satisfaction and income has implications for political economy, suggesting a mechanism for explaining economic and social populism. The paper discusses the implications of this paradox for policy and concludes that the relationship between income and satisfaction is more complex than traditional economic theory suggests, influenced by factors such as consumer expectations and social comparisons.This paper examines the relationship between satisfaction and income using data from the 2006 Gallup World Survey, which includes opinions on satisfaction with various aspects of life in 130 countries. The study finds a strong positive correlation between satisfaction and income, both across and within countries, challenging the Easterlin Paradox. However, a new paradox emerges: "unhappy growth," where faster economic growth is associated with lower levels of satisfaction, particularly in material domains and in richer, more urban societies. At the individual level, while higher incomes generally lead to greater satisfaction, an increase in the income of an individual's social group can have the opposite effect. This conflictive relationship between satisfaction and income has implications for political economy, suggesting a mechanism for explaining economic and social populism. The paper discusses the implications of this paradox for policy and concludes that the relationship between income and satisfaction is more complex than traditional economic theory suggests, influenced by factors such as consumer expectations and social comparisons.