When exploring the concept of downshifting I came across a lot of research being conducted in Australia. In particular, Clive Hamilton from the Australian Institute has focused much of his research on the topic and the idea that, (and I quote) "Australians are three times richer than their parents and grandparents were in the 1950s, but they are no happier". This notion has lead to an exploration of why this is the case and what people are doing to reverse the trend and create a more balanced and sustainable life for themselves.
The Australian Broadcasting Corporation also has a page dedicated to the topic on their website and provides a good overview of the phenonema and links to further research. Check it out!