Comment A couple of points (Score 3, Informative) 286
Three things are pretty well established (among both psychologists and economists):
a) Perceived happiness equals actual happiness (If we look at the brain activity near pleasure centers, we notice that how happy people say they are has very strong correlation with active those areas are. So if Antti from Finland rates his happiness at 60 and Ted from USA rates his happiness at 70, it's likely that Ted is actually happier and it's not just that they would have different scale due to culture, language, social class, etc...)
b) Absolute wealth increases perceived happiness only up to about 2000 dollars a month (If we look at countries below that threshold, average income correlates strongly with perceived happiness. Above that limit, very little)
c) Relative wealth to your peers increases happiness constantly (Look at essentially any country and you can bet that the wealthiest quarter is happier that the poorest quarter, even if the poorest quarter about reaches the threshold mentioned in b)
I don't have the time to write all evidence/arguments behind the above claims but if you're interested, I do recommend either the British economist Richard Layard's book Happiness: Lessons from a New Science (note: despite the name, it isn't any new age / self-help book) or getting up to date on the basics of modern psychology.
That being the case, it's a bit silly to make comparisons to medieval times and look at absolute wealth. Sure, we can say "Most of the poor no longer need to worry about starving to death in western countries" and that is a huge, happiness-increasing thing over the middle ages. But comparing their absolute wealth to aristocrats is more or less useless, because they are likely to be a lot less happy than the aristocrats (due to having low wealth and status relative to others instead of being considered the privileged elite of the society).
Also, you're pretty comfortably middle class so when people talk about the poor, they don't talk about people like you... but that's getting a bit offtopic.