Exploring happiness as an economist is sometimes challenging. Humanity can often get stripped out of the equation. I will look to explore the real issues which matter to people from an economist’s standpoint: community, quality of life, genuine wealth (well-being), etc. Hopefully, I can aggregate, simplify and help to redeem economics, which, ironically enough, set out to maximize societal well-being and happiness!
Mike Stolte: happyeconomist@gmail.com
Can you resist a marshmallow? Psychologist Philip Zimbardo, author of The Lucifer Effect and creator of many renowned experiments, looks at the relationship between happiness and time, in a video mini-lecture at TED (Technology, Education, Design), a leading disseminator of 'ideas worth spreading.' If you can resist the marshmallow (as a third of 4-year-olds were able to do) for 2 more marshmallows later, your success in life is much more likely. Higher scores on the SATs (250 points!), more confidence, less trouble, more success.
In all societies we have a different 'time perspective', putting a different value on the past, present & the future.
Some people live in the past (positive to negative), others are more oriented to the present (hedonist to fatalist). In our Western society we place a premium on the future (life-goal-oriented to transcendental). Many of us suffer from the incorrect balance of these competing time perspectives. Those who solely value the future will sacrifice fun, friends, family, personal indulgences, hobbies, and sleep. They live for work, achievement and control.
Zimbardo admits he escaped his old neighbourhood that was fixated on old ethnic battles (past negative) and present fatalism by valuing the future. The ideal mix can be achieved with a mental shift in our orientation to:
high - past positive (roots/groundedness around family and identity)
moderate - future hedonism (giving energy to explore people, places, self, sensuality)
moderately high - future life-goal-oriented (wings to soar to destinations and challenges)
It's worth checking out this relatively simple concept.
“Those only are happy who have some object other than their own happiness; on the happiness of others, on the improvement of mankind, even on some art or pursuit, followed not as a means, but as an ideal end. Aiming thus at something else, they find happiness by the way.”
John Stuart Mill, Philosopher, Father of Capitalism & Modern Economics
I’m happier since beginning to study happiness.
First off, I’m a learner. I need to be learning in order to be happy. I once came across a lovely simple recipe for happiness that stated it simply – one needs to truly live, to love and be loved, to learn and to leave a legacy for true happiness. Simple, almost too trite. For me, I found the learning part of this advice to be a missing ingredient to understanding my happiness. If I I’m not constantly learning, I realize, I get bored. Boredom and happiness are not easy companions. Over the last few years, the interest in happiness and research related to it has exploded. Happiness is no longer the exclusive domain of spiritual leaders. Until recently, psychology offered little to the study of happiness focusing almost exclusively on unhappiness and depression, the evil alter egos of happiness.Thankfully, happiness research is now becoming an integral part of neurobiology, sociology and now economics. Each day, there’s more to read, still more data to analyze, and more insights to make. For me, nothing makes me happier.
Secondly, the data makes me happy. Using it, I have learned that I shouldn’t expect to be happy all the time, despite society telling me I deserve the latest and greatest and that I’m but a quick pill pop away from solving my gloominess or other ‘dysfunction’. In a strange Darwinian way, scientists have recently found that temporary depression and unhappiness are necessary barometers of health, and ultimately for human survival. (Deep, long lasting depression` is unhealthy though). People aren’t getting happier in the rich West. As noted in the last issue, suicide, depression, anxiety and a whole host of problems are on the rise despite our newfound wealth. Research suggests that we get used to what we have very quickly. This habituation effect (I like to call it the ratcheting effect) helps explain why lottery winners on one extreme and recent parapalegics on the other settle back into old happiness levels. They simply adapt to their new circumstance.
Research also suggests our peer group and the people we associate with on a daily basis plays a huge role in our happiness. If everyone around you does well financially except you you can expect your happiness will be affected. Despite what we’d like to think, we’re a hierarchical species. Taking this research to heart, it would suggest disassociating from Bill and Melinda Gates and their social circle.
Thirdly, I have begun to make some important life choices to maximize my happiness. Call me a crazy economist, but I believe in data. Tempered with common sense, a knowledge of oneself (data only presents averages and generalizations
Fourthly, I become animated in talking about something I love and that others are struggling with. Like all teachers, I teach so that I may learn.
Originally published in Porch Magazine
Mike Stolte is the Happy Economist: happyeconomist@gmail.com
Mike thinks economics should put people first.
Mike is the Executive Director and founder of the Centre for Innovative and Entrepreneurial Leadership (CIEL - www.theCIEL.com). He is the originator of a number of strategic tools and processes to assess and strengthen vitality and entrepreneurship in communities.
Mike has spent many years working in the field of community, economic and business development. He has facilitated several national conferences and think-tanks, and has written many articles and publications in the field.
Over the past few years Mike has made presentations in Australia, the United States, New Zealand and in many parts of Canada. His subject matter most often centres around the need and the method for creating entrepreneurial and vital communities. His work has been featured in Canadian Living magazine, on CBC Radio’s Sounds Like Canada, in the Globe & Mail and on the Australian Broadcasting Company.
Mike is the current president of the Canadian Rural Revitalization Foundation and has served on Boards of a number of national organizations. He holds degrees from Carleton University (MA) and the University of Western Ontario (BA Economics).