Monday, May 05, 2014

"The Economics of Happiness" - Period 3- Due 5/12

http://www.yale.edu/opa/arc-ybc/v29.n22/story5.html
Please add an intelligent comment (minimum 5 sentences) in response to the linked article.  Be sure to use a minimum of one quote in your response.  Optional: Comment on a classmate's post in a second post (minimum 3 sentences) *Use only your first name, last initial and class period.

18 comments:

  1. There are two combating views on happiness and money: one; that money DOES buy happiness, and two; that money does NOT buy happiness. I believe that Mr. Robert Lane cleaned up those two points of view into one nicely; that having a lot of money does buy you happiness, but only momentarily. In a sense, I agree with that as according to human nature, even if we have a lot of money, we are going to just want MORE. However, this is not the case for all, as I know that if I had received a lot of money I would be happy in the sense that I know I can care for my parents and that I remain in a stable economic and financial position. I also liked that the interviewer mentioned/asked about the validity of the results, and he replied, going into scientific detail, that, "There are also physiological measures. Positive affect -- that is, happiness -- is a left-lobe phenomenon; negative affect is a right-lobe phenomenon. You can get those measures [by magnetic resonance imaging]. They know whether people are faking it or not." It was a great tool to use for the author of the article as it gave me a sense of reassurance in this man. The interviewer then goes on to ask Robert Lane about how specific things, like economy and companionship affect happiness, and so on.
    Overall, I believe that it was a very good article as it was very informative and never left me bored. The way that the article was structured was good, considering it was an overview of an interview, and the information in it was sound. I left this article with a new appreciation for a man named Robert Lane as a scientist, psychologist, and researcher, even though I don't fully agree with him.
    Megan Glynn Period 3

    ReplyDelete
  2. The question of does money buy you happiness is always brought up in conversation. Personally, I believe money can buy you things that make you happy, but won't buy you pure happiness. People always ask the question would you rather live in a small house, doing the job you love, with a happy family, Or have all the money you could ever want and be living the alone. I guess it depends on the type of person you are. Can you live a life where all that matters to you is material items and not having a loving relationship with people. In this article Robert Lane states, "Companionship is a word I use to cover friendship and family. The evidence is quite strong in every study of subjective well-being that a good family life contributes more to high subjective well-being -- happiness, if you like -- than anything else, and that doing things with friends contributes more." I completely agree with this statement. The more people you have around you the more likely you are to live a happy life. Although having large amounts of money would be fun for a couple of days, It would get boring and after a while there wouldn't be anything left for you to buy. I would choose family and friends over money any day.
    Michael S
    Period 3

    ReplyDelete
  3. Money is momentary happiness, and as Lane states it will not bring long term joy or satisfaction due to the fact that in fully developed countries we take in the excess and run with it rather than appreciate it. Money will buy happiness when it buys things of urgency, but once that line is passed and money no longer satisfies the needs that are dire, it starts being used to solve trivial disruptions in our lives as if it will have the same positive effect on us as when it solved serious problems like putting food on the table or keeping a family safe. The difference is that in these times of need we appreciate what is given to us, so money does bring joy to those who need it, and who benefit for the rest of their lives from the outcome of having enough money. Lane discusses ways, once we have surpassed the basic needs, to truly find happiness in your life, ways that are as vague and elusive as the desires that people start to form once they have pretty much everything they need in their lives. Things like companionship, appreciation, or a job that you find meaningful; all, i believe, give us that gratification that we are looking for in money, but will more successfully give us long term happiness and true joy in life.
    Cara Broughal
    period 3

    ReplyDelete
  4. Lane is trying to combat the whole does money buy you happiness question? Some say yes, others say no. To me I've always thought that money can't buy you happiness but at the same time it can help lead to it. Once you have enough money you can pay for you dreams to come true. To be truly happy you need to fulfill everything you've wanted to do, meet who've you wanted to meet and just explore every part of your world. Getting a lot money doesn't do this but with money you can find the right people and places to satisfy your wants. Lane had said, "It's very clear that the number of friends we have, for example, is a much better indicator of happiness than the number of dollars we have." What you do with your life is much more important than how much cash you have. If you spend all your time trying to get money and you loose your friends, you'll have no one to spend your money on/with and it'll be a sad lonely life.
    Alec Janis

    ReplyDelete
  5. I thought this article was interesting, because I've always been one to believe that money does, in fact, buy happiness, even though most everyone disagrees. If you spend a huge amount of money on a beautiful outdoor wedding, with the perfect flowers and dress, then odds are you'll be happy and satisfied. Plus I feel like more money means less stress, because if you have enough money to, let's say, buy a wardrobe that takes up a whole room, you don't have to stress as much about what you're wearing because the options are more bountiful. But, Lane made a good point when he said that, "For every increase in average income in the less-developed countries, there is a clear increase in the subjective well-being, happiness or satisfaction of the population. The relationship is clear, strong and persistent. In richer countries, it's very hard to show any relationship, and you can't do it either over time. As income goes up, happiness does not go up." So yes, if you don't have your basic needs, he's saying, then more money means more happiness. But he is saying that once you don't have to worry about survival, more money just means more problems, and more need for material things that will not satisfy you in the long term. I don't know if I agree with him, because I know that if I won the lottery tomorrow, I would be very happy for a long time, knowing that no matter what happens, I could be secure and my family could be, as well. I think, for me, money can buy happiness as long as you're buying experiences rather than things. For example, college education is ridiculously expensive, but if I paid the most to go to the best college, then I could have the best experience and meet the best people and have the best life after graduation. Paying for tickets to see my favorite band in concert is going to make me happy. I can go with my friends and sing along and enjoy myself for the night, and then every time I hear their songs again, I can think about that night and that would make me happy. Money can buy happiness, but Lane's points were accurate and made a lot of sense, but my core beliefs are essentially the same that as long as you're spending your money on the right things, you can be happier.
    Jennifer G.

    ReplyDelete
  6. In the article "Economics of Happiness", the author Robert Lane displays different sides to happiness. One is temporary happiness through an increase of wealth. Once someone has obtained something they wanted, then it is only natural to want more. Lane states,"If you won a lottery or if you get an increase in pay, it does have a momentary, important effect. You feel better. You're happier. That's short term. Very quickly you adjust to that, and the effect is dissipated, in the sense that you've set your standard higher". I think this is a very good point of how as humans we are always craving more, and in a sense, more in never enough. Besides money being an "extrinsic" form of happiness, there is also intrinsic happiness that one should obtain through relationships and goals rather than rewards and products.
    Gabby White
    Period 3

    ReplyDelete
  7. Happiness is not something that is attainable through money or through buying items that you consider luxury or expensive. True happiness comes from family and friends, and knowing that you can support them as best you can, and keep them in your life. It isn't about the cost of the watch on your wrist, or how shiny your car is. Sure you will feel better about making more money initially, but eventually you become accustomed to that standard of living, and anything less than that becomes less than satisfactory."If you won a lottery or if you get an increase in pay, it does have a momentary, important effect. You feel better. You're happier. That's short term. Very quickly you adjust to that, and the effect is dissipated, in the sense that you've set your standard higher." Then if you make any less money you feel actually worse than you did before, feeling as though you are not reaching the standard that you have now set for yourself. He touched on this a lot in the article, and he touched on how happiness from money is only temporary, and that once that happiness runs out, money can no longer sustain your happiness.
    Mike B Per 3

    ReplyDelete
  8. Happiness is very similar to war, very hard to define to someone who has never faced it or experienced it. I do agree with Robert Lane that happiness mostly from inside us rather than from materialism or money. Wealth does matter but only to the point it can rise us from the poverty. I love how Lane make a comparison of the friends and money, “It's very clear that the number of friends we have, for example, is a much better indicator of happiness than the number of dollars we have.” That is so true that the people around us play a huge role in our happiness. This article makes a lot more sense to me probably because we talked about happiness in psychology class. The happiness is higher when it’s intrinsic rather than extrinsic. We shouldn’t depend on others for our happiness. “Intrinsic work enjoyment, doing a job you enjoy doing, has two important elements. Doing a job that is not too closely supervised, so that it's your work. And another is non-routine. Working with ideas and people rather than things has some advantages,…” The concept of materialism can’t buy happiness can be explained more clearly in the novel The Great Gatsby. Gatsby has a grand and beautiful house with tons of wealth to buy happiness (in a sense) but he still is unhappy. Happiness is an expression when one achieves a goal that they worked so hard for and in a way can improve his/her life not materialism.
    ~Shilpa R Period 3

    ReplyDelete
  9. In the article, "The Economics of Happiness", Professor Lane explains the reasoning behind happiness, and what causes it. he explains that money only buys you happiness for a small amount of time. He states, "Very quickly you adjust to that, and the effect is dissipated, in the sense that you've set your standard higher.' He says that after the poverty level, the amount of money does not affect how happy one is. Happiness is subjective. What makes one person happy may not make the other feel the same way. People who are more materialistic are less happy than those who are not. If we get everything we want, don't we just end up wanting even more? Happiness depends on you and how you perceive life's advantages and disadvantages.

    Emma S
    Period 3

    ReplyDelete
  10. I agree with many of the points that Lane makes in the article "The Economics of Happiness." We are growing up in a culture that associates wealth with prosperity and therefore satisfaction. However, I think that materialism is actually hurting our society rather then making it better. Like Walden, sometimes it is better to detach from technology and material items to find our true selves. Lane explains that money helps us feel better momentarily until the feeling goes away and set the standard higher. He says, "Actually for long term there is no way that you can show that the rich are systematically happier than the not-so-rich. At least you can't in advanced countries." Obviously those living in poverty are not as happy, but Lane explains how "Money, once it has satisfied people's basic needs, does not buy happiness." I think happiness is based on relationships and the sense of connection with others. People, not things, is what truly brings us a sense of self worth. I like how the author, Lane describes it as, "happiness is not from economic gain in the material sense, but from what other people think of you."

    Eleanor Hall
    Period 3

    ReplyDelete
  11. The author of this article does a great job of providing examples to explain the already commonly known expression, "Money does not by you happiness". But he also says that this is not entirely true and that, "The safest thing to say is that after you've arrived above the poverty level, levels of income have no relationship to happiness." So this is saying that people at an income level above poverty will often be happier than people who are impoverished, but that is where you draw the line. The greatest way to increase happiness is through companionship, the author says. "Companionship is a word I use to cover friendship and family. The evidence is quite strong in every study of subjective well-being that a good family life contributes more to high subjective well-being -- happiness, if you like -- than anything else, and that doing things with friends contributes more."

    Kevin C.
    Period 3

    ReplyDelete
  12. I think the author of this article is very effective at pointing out societies issues regarding wealth and happiness. He supports the fact that they are really not related at all, but people assume the more money the more happiness. Although it is almost the complete opposite. Dollars in your pocket do not directly correspond with the kind of attitude you have. In fact, in most cases, the more money a person has the less content they are. I like when the author provides the statement ,"If you won a lottery or if you get an increase in pay, it does have a momentary, important effect. You feel better. You're happier. That's short term. Very quickly you adjust to that, and the effect is dissipated, in the sense that you've set your standard higher." It is the perfect example that money cant buy happiness, it comes from true friends and experience. Citizens in todays culture especially are never happy with what they have, so like the example with the lottery, one's standards will increase along with the amount of money they have.
    Alyssa Case
    Period 3

    ReplyDelete
  13. Webster's dictionary defines economics as a science concerned with the process or system by which goods and services are produced, sold, and bought. You may notice that this definition does not mention happiness. This article makes the point that wealth and monetary value can bring happiness but only in the short term. And statistically it'll lead to less happiness in the long run as we find that more is never enough. To quote the article, "Companionship is a word I use to cover friendship and family. The evidence is quite strong in every study of subjective well-being that a good family life contributes more to high subjective well-being -- happiness, if you like -- than anything else, and that doing things with friends contributes more." So what I took from this is in our pursuits of happiness we should look for happiness in our relationships with our families and friends and ultimately in our satisfaction with ourselves.
    Justin Campos
    Period 3

    ReplyDelete
  14. In the article, "the economics of happiness" by Professor Lane, states that above the poverty line, there is no measure or distinct correlation between yearly income and happiness. Lane states that there are multiples 'theories' on happiness. There is a distinction between being happy and satisfied. Today some people work for 8-10 hours each day in a career that does not make them happy, however as long as they are earning decent amount of money that can sustain their standard of living, they can be satisfied. I believe that in today's society we are more concerned about our short term happiness, that is why we are lured by fashion, lottery tickets, and gambling. Helen Gurley, an American editor in the 1922, stated, “Money, if it does not bring you happiness, will at least help you be miserable in comfort.” I believe that the effects of materialism and consumerism in the United States is causing us to be money driven and greedy people. As a teenager, I know that when my favorite band or singer is endorsing a product, it is tempting for me not to buy it. We are easily persuaded by the media, which is affiliated with propaganda. I think that happiness comes from within ourselves- not from clothes that we will grow out of, or video games that we will get bored of playing, or even the iphones that will stop working. It's hard to even imagine how a society can function with the constant desire to buy new things and objects.
    Reitsuma Panta
    Period 3

    ReplyDelete
  15. I like how the author, Lane describes it as, "happiness is not from economic gain in the material sense, but from what other people think of you." In the article "Economics of Happiness", the author Robert Lane displays different sides to happiness. One is temporary happiness through an increase of wealth. Once someone has obtained something they wanted, then it is only natural to want more. In my opinion material things dont give you happiness. Only things inside can truly give you happiness. Not money or material posessions. Its a shame to say that society believes that materials give you happiness because they truly dont. I think the author is very effective in proving his point about his side and I agree with everything he says. True happiness comes from friends, family and the relationships you have with people that you love and care for. We cant buy happiness in any means. Happiness is only by things we cant see.
    Dalton E
    Period 3

    ReplyDelete
  16. In my opinion this article connects the most and is relevant to The Great Gatsby. This concept of money cant buy happiness thing that Gatsby never really understood. It is a lesson he should have learned. The author, Lane, describes in his article that after winning the lottery your happiness may actually not increase because," Very quickly you adjust to that, and the effect is dissipated, in the sense that you've set your standard higher." This point is something i have never though about before. Money increases your standard of living so you need even more to maintain that lifestyle. The rich are not as happy as everyone thinks because the material possessions lose their shine after a short period of time. In Gatsby we see that Jay Gatsby assumes all his problems will be solved with money and he will forever be happy with Daisy. We also see that money helps because no one is saying it doesn't but his happiness does not increase significantly throughout the book. His new material possessions can not give him the life that he wants. Only love can do that therefor proving that money does not bring happiness.
    Elena Muniz
    Period 3

    ReplyDelete
  17. Happiness is a funny thing. We expect that more objects and material things will increase our happiness. However, this is usually untrue. It's actually quite the opposite. "Money does not buy you happiness." Happiness can not be measured in wealth and things. The more money one has, the more stress is upon their shoulders. So in a way, money can reduce happiness. True happiness is measured in family and love. The things you cant hold or count. Those things result in true happiness. This is why Gatsby has such a hard time finding happiness. He thinks that if he simply throws money at everything in his life, he can buy happiness. Extravagant parties, though fun, do not make you happy. Gatsby is really looking for love.
    Jared Platt Period 3

    ReplyDelete
  18. Find best Home based Business without any work, just invest and rest with your profit
    EarningsClub.com

    ReplyDelete