Summary
Article: “From the “perfect’ salary to keeping up with the Joneses, here’s how money really affects your happiness” Author: Cory Stieg
Conclusion: Money affects happiness.
Premises:
Money is important for meeting basic needs
Overall happiness is limited
The human tendency to compare ourselves to others plays a major role as well
As people earn more money their expectations rise
How much money we spend influences happiness (spending habits)
TedTalk: “The Paradox of Choice”
Conclusion: Having more choices leads to increased paralysis and decreased satisfaction, so the secret to happiness is low expectations.
Premises:
“Patient autonomy”
Opportunity cost decreases our satisfaction
People have disappointing experiences when their expectations are too high
When you are choosing to do one thing you are missing out on another
What produces paralysis is having too many choices.
I agree that money doesn't guarantee happiness, to an extent. While money is important for meeting basic needs, studies show its impact on happiness varies. The article, “From the “Perfect’ Salary to Keeping Up with the Joneses, here’s How Money Really Affects Your Happiness”, conveys how studies indicate that there is a threshold income level - around $60,000 to $95,000 per year - which increases income and shows that it does not necessarily lead to greater happiness (Cory Stieg, 2021). Also, the human tendency to compare ourselves to one another and adapt to changes in wealth may lessen the happiness we gain from having more money. Instead, I believe things such as finding purpose and meaning in our work, engaging in activities that we find intriguing, and spending money on experiences is what engage our happiness. Additionally, according to the TedTalk the more our paralysis increases the more our satisfaction decreases. Meaning the more options we are given becomes more difficult for us to choose which one we want, leading us to be less satisfied with the consequences of having too many choices. Therefore, while money is important for us to meet basic needs, true happiness is achieved through fulfilling experiences and engaging in activities that hold personal significance rather than through wealth.
Ashley Armoogan
2 thoughts on “Conversation 5: Arguments”
Hi Ashley, I agree with your overall response money is not the root to happiness but with money we can help others and help ourselves which can then lead to happiness. It’s not about just money but like you said engaging ourselves in activities and spending money on experiences. I liked how well thought out your response is.
Hi Ashely,
I like how the format you used for your conversation, it helped how to write out my conversation. As well as, I agree with how comparing ourselves to other plays a major role in money affecting happiness.