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."
Daedalus - How not to buy happiness - The MIT Press
Posted May 31, 2005 1:07 PM
Comments
100% Correct! And every time an EU government resists measures to make the economy more "dynamic", preferring instead to try to maintain a decent level of "inconspicuous consumption", they get branded "Old Europe" or, horror of horrors, socialists. Fortunately there are some leaders, and even some cultures, that realise that economic efficiency at all cost is not a desirable goal. Unfortunately they are swimming against the tide.
Anonymous, June 3, 2005 6:59 AM
I just like to say it how I see it. Take care.
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