Apparently not. But a suddenly bad economy sure seems to cause unhappiness.
Personally speaking, I don’t really see the big deal. My take on the “suddenly” bad economy? Welcome to the world I’ve been living in since mid 2001. I don’t think the economy ever improved between the 2001 recession and this one. I think people just tried to pretend like those of us hurting didn’t exist, until the problems that were hurting us spread and got too big to ignore anymore.
I’m not an expert, but thats what it looks like from where I’m sitting.
Not that it matters, because as the chart in the link above shows, a big GDP doesn’t equal a happy society.