I’m sure, if you are like me, you’ve read more than a few articles about whether money buys happiness. I happened to read the latest version on Newsweek. I particularly liked their comments on each consumer being trained to want more and earn more. It is true that our economy thrives on increased growth and production. Anyway, here’s a quote from the article that I liked:
“If more money doesn’t buy more happiness, then the behavior of most Americans looks downright insane, as we work harder and longer, decade after decade, to fatten our W-2s. But what is insane for an individual is crucial for a national economy—that is, ever more growth and consumption. Gilbert again: “Economies can blossom and grow only if people are deluded into believing that the production of wealth will make them happy … Economies thrive when individuals strive, but because individuals will strive only for their own happiness, it is essential that they mistakenly believe that producing and consuming are routes to personal well-being.”
So, next time you pull some equity out of your house and buy a new 96″ flat screen TV for your wall, just remember. It’s not as much for you as it is for the rest of us.
I often think of this, but I have never heard anyone else articulate it. In fact, when I muse about the fact that if people really did what was best for them, the economy would probably collapse, people often look at me like I’m crazy.
Almost every time I go for a drive I marvel at the absolutely endless sprawl of shopping malls, restuarants, boutiques, strip malls, and countless other retailers. How do all these companies stay in business?!? Can we really all be spending THAT MUCH?? I am constantly amazed by it.
If Americans suddenly all woke up together and started saving like they should, being content with what they have, and/or rejecting the mindless consumerism that pervades our culture, then countless retailers would be out of business almost immediately. Those retailers would have to fire all their employees, who in turn wouldn’t be able to pay their mortgages and other bills, which would make banks start to fail and the stock market would crash…and in short there’d be widespread economic panic and collapse.
It’s our patriotic duty to spend, in order to keep America going. But it sure scares me.
Hi Meg,
Apparently we’ve both used some brain energy thinking about this. Imagine what would happen if everyone in the country started saving 10% of their income. We would go in to a massive depression.
The thing that I find sad is that people who do save, and do things the right way, often end up with the most money to spend. It’s all the people who are mortgaging their futures and debting to get things that are going to really ruin the economy in the long run. Thank goodness some of us out there have figured it out before it was too late, and blogged about it too. :)