"If thou wilt make a man happy, add not unto his riches but take away from his desires." ~ Epicurus
Have you ever, knowingly or unknowingly, placed money above all other priorities in your life? Have you ever passed over the lower-cost, generic product for the higher-priced product that carries more social prestige? Do you believe the only thing that can bring more happiness than money is more money?
If we are being honest, I will be the first to raise my hand and admit my guilt on all three of those, especially in my past. If you can make the same admission you may have been struck by a case of affluenza.
According to Wikipedia, affluenza is a term used by critics of consumerism that derives its name and meaning from a blended combination of affluence and influenza. I've run across the term before but thought it would be interesting to make our own philosophical observation and analysis here at TFP...
Before doing so, let's take a look at a few more of the key points made on the Wikipedia entry:
- Affluenza: a socially transmitted condition of overload, debt, anxiety and waste resulting from the dogged pursuit of more.
- Proponents of the term consider the costs of prizing material wealth vastly outweigh the benefits. They claim those who become wealthy will find the economic success leaving them unfulfilled and hungry for more wealth.
- Affluenza is considered to be most present in the United States, where the culture encourages its citizens to measure their worth by financial success and material possessions.
- Mainstream media outlets, such as television broadcasts, tend to demonstrate how pervasive the idea has become; and by the same token, the same media outlets reinforce the values to the viewers.
My observation is that, while there are some exceptions, these points are generally true. As you may expect, however, I disagree with the fundamental suggestion that affluenza is a disease. Instead, I believe that it is a symptom of the greater disease of being human, and the only cure to that disease is self-awareness.
I find myself agreeing most with the final point that highlights the mainstream media's misleading promotion of wealth and the acquisition of material things as a means to obtain happiness.
There certainly is no shortage of media sources, especially books, that tell us to spend less than we make or suggest ways to get rich and retire young. The majority of these sources, with good intentions or not, suggest that our unhappiness may be only a flaw in our strategy to pursue material wealth but rarely suggest that the pursuit of material wealth, itself, is actually the flaw.
"What is important in life is life, and not the result of life." ~ Johann Wolfgang von Goethe
The path to a meaningful existence is, without a doubt, found through the pursuit of self-awareness. This path is long and winding but absolutely fulfilling. Here are a few sources that appeal to me that may be of use to you in curing affluenza and in finding your own path:
- Human vs Individual: In summary, once we recognize that our human tendencies are often in conflict with our best interests, we are on our way to a meaningful life.
- We Can't Predict Happiness: Dr. Daniel Gilbert, author of "Stumbling on Happiness," says that "people have an inability to predict what will make us happy -- or unhappy. If you can't tell which futures are better than others, it's hard to find happiness. The truth is, bad things don't affect us as profoundly as we expect them to. That's true of good things, too. We adapt very quickly to either. So the good news is that going blind is not going to make you as unhappy as you think it will. The bad news is that winning the lottery will not make you as happy as you expect." Read the full New York Times article, A Conversation With Daniel Gilbert: The Smiling Professor, (Hat Tip to TFP Reader, "Charles").
- Where Can We Find Happiness? True happiness or well-being is entirely an internal creation and not one from the physical world. Recent studies reveal that the old science assumption that the adult brain is unchangeable is fundamentally incorrect. The studies further demonstrated that mental training had the power to change the physical structure of the brain. The brain can be rewired so there is hope for you after all!
- More Money is not More Happiness: Happiness Economics reveal that the richest nations, such as America, are not the happiest. Rich countries may be generally happier than poor ones, but once extreme poverty is overcome, the connection between wealth and happiness weakens.
What are your thoughts of affluenza? Once our basic and physiological needs are met, can more money really bring us more happiness? How much is enough?
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Related Post: The Diminishing Marginal Utility of Wealth
Thanks for the post, Kent. This is very pertinent for me since I'm about to graduate college and begin thinking more about money. It's a good exercise to help me ponder my relation between money, time, and life.
More money can bring more happiness, I believe, so long as it is directed in the right way.
Individually, studies have shown the happiness money provides begins to taper off after an income of $50,000 a year. Although it depends on where you live, that is quite a healthy sum in my opinion. I know I can't do this forever, but I'm quite happy where I am right now, living with roommates. Outside of costs of education, my living expenses are about $7000 a year.
Beyond that, money has less utility for the individual. However, if moved in other directions, money can bring in another level of happiness. Giving to a charity or cause or building a business and hiring good workers are ways to direct the excess beyond $50,000.
I'm also fond of the phrase "Time is money", although it's never said that "money is time." Either way we look at it, we are exchanging a part of the day for money, where that time can be spent elsewhere. For example, with family, friends, engaging in civic responsibilities, volunteering, philosophy ;), all of which also create happiness. If money can help facilitate this, then more may be better, as long as it doesn't get in the way.
In the end, money should be seen as simply a tool with a purpose. All tools have a limit to what they can do, and are only useful up until that point. They can be set aside after so we can focus on the rest of life.
Posted by: Oz | April 30, 2008 at 01:25 PM
Oz:
You bring up many good points and you demonstrate wisdom beyond your years...
If we can separate what we are "taught" from what the great thinkers of history have said for thousands of years, most of us will come to the realization that money is not an significant end but an insignificant means for the purpose of finding a meaningful life...
Everything is an "investment," whether it be time, money, relationships, career choice, and so on. Our goal is to receive a favorable "return" on our investment that aligns with our values...
The one aspect of the future that is certain is that it is uncertain. If you write down on paper where you will be 5 years from now, you will probably not predict it accurately; therefore, you should simply choose a direction (path) and begin walking. Opportunities will present themselves. You simply need to be able to identify them and act on them when you come upon them...
I will close my thoughts with a few quotes, one is a few years old and the other two are a few THOUSAND years old:
"Life is not about making money. Money is about making a life." ~ Mitch Anthony
"If a man is proud of his wealth, he should not be praised until it is known how he employs it." ~ Socrates
"I do nothing but go about persuading you all, old and young alike, not to take thought for your persons or your properties, but and chiefly to care about the greatest improvement of the soul. I tell you that virtue is not given by money, but that from virtue comes money and every other good of man, public as well as private. This is my teaching, and if this is the doctrine which corrupts the youth, I am a mischievous person." ~ Socrates
Thanks, as usual, for the comment and please continue to share your perspective with us...
Posted by: The Financial Philosopher | April 30, 2008 at 02:00 PM
I enjoyed the "TIME" article titled "How the Brain Rewires Itself". In the section about how Thinking can rewire the brain, a cartoon popped into my head. A man is lying on a hammock with eyes closed. His wife approaches and ask, "What are you doing?". The man replies without opening his eyes, "I'm increasing my mowing skills by mentally visualizing mowing the grass."
Seriously, you may find this article by Dr. Shannon Moffett titled "Sleep, Tetris, Memory and the Brain" interesting. Dr. Moffett states that research shows that a new skill is more likely to be hard wired into the brain if the practice session of the new skill is followed by a one hour nap, or a full night's sleep. Link: http://www.sharpbrains.com/blog/2008/03/24/sleep-tetris-memory-and-the-brain/
I found this 52 minute speech by Dr. John Medina this weekend. Dr. Medina mentions that 60 minutes of aerobic exercise per week improves decision making ability, but not memory skills. Also, long term exposure to the type of stress caused by a perception of "loss of control" will kill cells in the hippocampus part of the brain, which impedes your ability to learn. Dr. Medina also discusses that successful mariages have one common ingredient: the men in the marriage are aware of and sensitive to their partner's emotional needs. Link: http://youtube.com/watch?v=R9Y91gPgI8k
This article in "WIRED" states that software maybe on the way which can make you smarter titled "Forget Brain Age: Researchers Develop Software That Makes You Smarter". Link: http://www.wired.com/science/discoveries/news/2008/04/smart_software
Charles
Posted by: Charles | May 01, 2008 at 07:20 AM
Charles:
Thanks for the links! Thus far your interests have aligned closely to mine. The Dr. Moffett article seems especially interesting...
I believe it was a Daniel Goleman book where I read that our brain continues to process thoughts as we sleep and he even suggested that, if we are trying to solve a problem, our brain will continue trying to solve the problem in our sleep!
Thanks again. I'll check out the articles...
Posted by: The Financial Philosopher | May 01, 2008 at 01:22 PM
Hi Kent, I'm randomly browsing your posts in an effort to find a good starting place (or initial post!)
Wonderful place you have here! Don't know how I've missed it this last year of stalking personal finance blogs :P
Posted by: Heidi | May 29, 2008 at 01:27 PM
I wish you great blessings and love.*
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