Summary
The arguments on whether money and choice bring happiness are topics that have been debated for an exceptionally long time now. I do honestly believe it is one of these philosophical debates that likely will be around for all of existence. The tedtalk, The Paradox of Choice, highlights Barry Schwartz’s argument, the conclusion being that an excess of choices lead to a lack of satisfaction and happiness with the choice one may make. The premises he uses are intriguing, he states that the overabundance of choices can “paralysis other than liberation” explaining that when burdened with an excess of choices it can cause a freeze in the psyche, not allowing one to come to a decision with the options available. He also states that the value we put on things relies heavily on comparison. The CNBC article actually falls in line with the TedTalk a good bit, looking that how money affects happiness. Their conclusion being that more money does not necessarily bring you more happiness, and stating there is a “perfect happiness salary” as per their estimations it is around $75,000. Their premises supplemented by studies from various researcher, stated that emotional wellbeing and daily feelings did not improve the higher salary rose from the baseline (aforementioned 75,000), but life satisfaction did rise. Also, when people earned over $105,000 their happiness levels decreased.
This is one of those age-old arguments that does not seem to have a right or wrong answer. Money and choice do not bring happiness, but they can support it. The ability to be able to afford/acquire not only one's basic living necessities, but certain things considered luxuries can help supplement many people's passions. For example, I enjoy cars, I love finicking around with mechanical objects and learning as much as I can about them. I could become a mechanic where that desire to learn about them would be satiated, and it is a very respectable job that can lead to a good wage. I also enjoy psychology, and the study of the mind is something that I will always try to expand on as much as I can, it is what i've chosen as a career choice (at least when I graduate). While there are many variables to what one can make in that field, I have many interests like the one I mentioned above, the more I can support those interest which can cost money to do so, the higher level of satisfaction and Happiness I am likely to have. Now, there is a healthy limit which the TedTalk and the article did mention, but that limit in reality will be different for every individual and how they acquire that money, and how they handle the sometimes overwhelming number of choices that they may face.
