TEDTalk by Barry Schwartz titled “The Paradox of Choice:”: The conclusion of Schwartz’s Ted Talk is that the key of life happiness is to have low expectations. He gives us a number of premises, including a fishbowl analogy, where he describes how everyone should have their own form of a fishbowl that sets limitations. If the fishbowl were to break, we’d experience a sense of paralysis where the endless amount of choices will leave us exactly where we are, scared to make the wrong decision or simply not knowing what to choose. You also might regret the choice you made, even if it was a good choice, because of the expectations you have established for yourself. He explains that freedom is good, valuable, worthwhile and essential to a human being, and we know that’s true when looking at other countries aside from western culture where people have very limited choices. In that case, a pleasant surprise or an available choice that brings happiness because of the people’s low expectations brings happiness to their lives.
“From the ‘perfect’ salary to keeping up with the Joneses, here’s how money really affects your happiness” by Cory Stieg: The conclusion of this article is that having meaning is what brings true happiness. The article centers around the idea of money equally happiness and if that’s truly the case. Studies at Princeton and Purdue University highlighted that people making 95k or more than 100k usually do not feel emotionally we;; but rather have a life satisfaction from being able to get materialistic things. They struggle with the idea of comparison and the feeling of not wanting to stack up next to everybody else. Their expectations grow as their salary grow, and they are in an endless cycle of never being satisfied with themselves. On the other hand, people making the average salary of 60k/middle-class individuals find themselves more content with their emotional wellbeing. They are able to find meaning with life because they aren’t always looking for the next best thing but living at the moment. It is not about wanting to be in a lower-paying job but wanting to be in a more meaningful job, which in turn can result in lower pay.
The argument that money doesn’t equal happiness has been talked about for decades. Some believe that you can actually buy happiness, but Stieg mentions how this custom of spending money on materialistic things is something an individual gets accustomed to and no longer finds meaning in after a while. This is true, happiness is something we look for in life, not at the moment. We want to maximize our welfare, as Schwartz explains because maximizing welfare leads to a better, more meaningful outlook in life. Even giving away your money to causes or people in need has been proven to give more satisfaction than to spend it on something temporary like a new hair color or a brand-new refrigerator. Sure, these things do improve quality of life, but it doesn’t improve emotional well-being. Suicide and depression has been of concern for a long time, and it doesn’t only apply to those lower income individuals. Back in 2018, the news spiraled with the announcement of famous fashion designer Kate Spade committing suicide at only 55 years old. She wrote a letter to her daughter where she explained it wasn’t her fault and she had been battling with depression. Kate spade was doing well for herself, she seemed to have it all, but her happiness wasn’t fulfilled by money. This is a prime example of why happiness might not be directly linked to money. It’s a very sad story that touched many people and brought to light once more the importance of mental health, much more important than wealth. All in all, living in a fishbowl where you can appreciate your life and find meaning to your life with limited choices, a mid-income salary might not be such a bad thing.
