Question

*MINIMUM 300 WORDS*

Discussion: From the “Paradox of Affluence” to the “End of Affluence”?

Purpose: Generate discussion of how the current economic “crisis” may affect individual happiness and the importance/relevance of positive psychology.

Note: It is probably important to point out that no one would deny the hardship and unhappiness of millions of Americans that have lost their homes, jobs, or businesses and seen their retirement savings dwindle, or the anxiety of millions more who fear that they may suffer one or more of these losses. The discussion below assumes that the economy will eventually recover or at least improve. The question is, will our current crisis cause us collectively to rethink the meaning and basis of a happy life?

Background.

Positive psychology emerged partly in response to the unprecedented affluence of the last several decades. We became richer, but not happier, and rates of depression increased significantly, raising the question of “if money doesn’t make us happy what does?” In his book The Paradox of Choice: Why More is Less, Schwartz describes two philosophies concerning the unprecedented freedom to choose products and lifestyles within advanced consumer cultures (see Chapter 6). A maximizing philosophy (get the most) increases the pressures to choose the “best” possible option and may paralyze action because of the myriad of choices available, and may also lead to self-blame when decisions don’t turn out well because “we” made the choice. People who follow a satisficing philosophy (good enough) are content with “good enough” decisions and choices. Research shows that compared to satisficers, maximizers are less happy, have lower self-esteem and higher levels of neuroticism and a greater risk of mild depression.

1. Reactions:

What reactions and lifestyle changes have you seen in people’s response to the economic downturn?

2. Rethinking Happiness:

Are there positive lessons to be learned from economic uncertainty and hardship? Is there an analogy between individual posttraumatic growth and the possibility of collective growth following our economic “trauma”? Might people change how they think about the connection between money, consumption, and happiness? Might we see a shift from a maximizing to an “enforced” satisficing philosophy and increase in well-being, as research suggests? Will people count their blessings, feel a renewed sense of community, and focus on the most important things in life? Or, when the economy recovers will it be back to business as usual? Is talk of positive change out of place given the misery caused by financial hardships?

Answer 1

1. Those who experience an economic downturn suffer from dire consequences of mental health problems, predominantly anxiety diroderss and panic attacks as it leaves them in a state of upheaval and uncertainty. This, in turn, can lead comorbid effects if depression. Sociological economic status shows a direct causal relationship with one's mental well being.

2. Of course, there are lessons of positivity that can be learnt from such hardships amd can make people rise from rock bottom, as it makes them push and value vital aspects of life that have an expiration date on them. They are the ones who push in life and stand out further amd stronger, if they do not let the pressures of life get to them.

People in totality seem to be far away from achieving a change that breaks their perception of connection of money and happiness, which are the rising trends and threads alof consumerism.

The economy crashes and there are two probabilities, people realise what's true to their heart, or they crave the materials pleasures that businesses cater to them. The latter seems more so probable in a world that is largely digitalized and integrated in one's daily routine.

But, positive psychology, its advent, is a definitive symptom of a broken society and is a thus a riding discipline.