"What a great site! I'm impressed by the great stuff you've pulled together. It merely confirms my long-held belief that economics CAN be interesting....
All the best"-
Charlie Wheelan,
aka The Naked Economist
This article shows that it's better to have 100 dollars and your neighbor have 50, than to have 200 dollars and your neighbor have 200. Peopl with more money relatively seem to be happier. I think this is true. A good example is test scores. Many times I will be happy with my test score until I see what one of my friends got. If they did better then I will be unhappy with my score, but if they did worse I am still happy with my test score. Life works relatively and apparently so does economics.
I found that many parts of this article directly apply to our society. Especially inhabitants of Long Island, one of the more materialistic areas of the country, we work harder to try to 'get ahead' so we may have better and more commodities. But honestly, who has time to enjoy these things if we are all busy working, keeping up with housework, doing bills, etc. I think we should prioritize what we need and want and try to only purchase the necessary quality or amount of an item to free ourselves with more leisure time. Another issue the article recognized is that we are in constant competition with our peers. If we concentrated more on our own businesses, jobs, families, etc., we would probably have more time to accomplish our goals for those fields because we wouldn't be as concerned with what others are doing.
2 comments:
This article shows that it's better to have 100 dollars and your neighbor have 50, than to have 200 dollars and your neighbor have 200. Peopl with more money relatively seem to be happier. I think this is true. A good example is test scores. Many times I will be happy with my test score until I see what one of my friends got. If they did better then I will be unhappy with my score, but if they did worse I am still happy with my test score. Life works relatively and apparently so does economics.
I found that many parts of this article directly apply to our society. Especially inhabitants of Long Island, one of the more materialistic areas of the country, we work harder to try to 'get ahead' so we may have better and more commodities. But honestly, who has time to enjoy these things if we are all busy working, keeping up with housework, doing bills, etc. I think we should prioritize what we need and want and try to only purchase the necessary quality or amount of an item to free ourselves with more leisure time. Another issue the article recognized is that we are in constant competition with our peers. If we concentrated more on our own businesses, jobs, families, etc., we would probably have more time to accomplish our goals for those fields because we wouldn't be as concerned with what others are doing.
Post a Comment