How not to buy happiness
"The choice in each of these thought experiments is one between conspicuous consumption (in the form of larger houses) and what, for want of a better term, I shall call inconspicuous consumption –freedom from traffic congestion, time with family and friends, vacation time, and a variety of favorable job characteristics. In each case the evidence suggests that subjective well-being will be higher in the society with a greater balance of inconspicuous consumption. And yet in each case the actual trend in U.S. consumption patterns has been in the reverse direction."
Posted May 31, 2005 1:07 PM