Xinlin Luo Conversation 5

The Paradox of Choice by Barry Schwartz concludes that having too many choices is what causes our happiness to decline. The premise of the article is that the more choices we have, the higher our expectations become, and when those expectations are not met, it can lead to disappointment. Too many choices can overwhelm us, while possibly making us feel as if we are missing out on something better and wondering if we are making the wrong choice. Lowering our expectations can instead help us feel happier more easily.

The CNBC article titled “From the ‘perfect’ salary to keeping up with the Joneses, here’s how money really affects Your happiness” concludes that money affects happiness to a certain point. The article’s premise is that the higher people’s income and economic conditions are, the happier they will be, but when financial security reaches a certain level their happiness will level off. People tend to adapt to the increase in income, so the positive impact on happiness is short-lived. In addition to this, because people tend to compare themselves with others, we feel unhappy when we find ourselves unable to maintain the same standard of living as our peers. Thus social comparison can lead to increased stress and decreased happiness for us. Another point is that the way we spend money can also affect our happiness.

Money can solve most of the material needs in our lives and thus promote happiness, but only to a certain point. And money is not the only factor in being happy. Time, for example, is something that money cannot buy. We would like to have more time to spend with those we love, but when time passes and we miss it, we can only regret and pity that we did not spend time with those we love. However, money cannot buy us time to spend with our loved ones. According to the famous study mentioned in the CNBC article, “people tend to feel happier the more money they make, up until a point, which Kahneman and Deaton estimated to be about $ 75,000 a year per person”, after which happiness levels off. I believe that once people have gotten what they want, they will want more. Focusing too much on what you want and material possessions can reduce happiness. If we do what was mentioned in both articles, i.e., reduce the number of choices and pay attention to the choices we make, and spend money on experiences like trips or events rather than material possessions, this will bring us more happiness.