The paradox of choice is an observation that having many options to choose from, rather than making people happy and ensuring they get what they want, can cause them stress and problematize decision-making. Barry Schwartz talked about the negative consequences of having too many options. Schwartz stated that an overabundance of options can lead to anxiety, indecision, paralysis, and dissatisfaction. The main premises Schwartz used was a study that was done of investments in voluntary retirement plans. He stated that “a colleague of mine got access to investment records from Vanguard, the mutual fund company, of about a million employees and about 2,000 different workplaces. What she found is that for every 10 mutual funds the employer offered, the rate of participation went down two percent”. As the company added more mutual funds, the rate of participation went down even more. This goes to show how having many choices to choose from can hurt people.
In “From the ‘perfect’ salary to keeping up with the Joneses, here’s how money affects your happiness”, by Cory Stieg, the conclusion was that money and the way a person used their money can impact their mental state. The first premise discussed the happiness salary or the ideal salary for the average person. A study by Princeton researchers found out that the ideal salary for a person is $75,000. The second premise talked about comparing wealth and social status. Studies suggest that when we feel like we can’t maintain the same standard of living as our peers, it makes us unhappy. The final premise talked about how money can buy happiness. Sonja Lyubomirsky, a professor of psychology at the University of California who studies happiness stated that spending money on personal growth, connecting with people, and contributing to the community, do contribute to happiness. Studies also suggest that spending money on experiances makes you happier than items.
My argument: Money doesn’t guarantee happiness, instead, your choices guarantee your happiness. “When people earned more than $105,000, their happiness levels decreased (Stieg).” This shows how money cannot guarantee happiness. In addition, many celebrities suffered from depression and experienced many mental hardships even though they were rich. This goes to show how people’s life choices make the difference in becoming happier in life.
One thought on “Tarik Brewer DB 5”
Hello Tarik, I agree with you. Especially your point about watching celebrities struggle with mental illness, although they have much more money than most. Money can only solve a small subset of issues we deal with in day-to-day life. A thick stack of hundred-dollar bills can buy you a car, but neither the car nor the cash can give you a hug, or congratulate you on a well-written essay.