I have been reflecting on Ray’s lecture yesterday about the link, or lack thereof, between money and happiness. As a psychology undergrad, yesterday wasn’t the first time I’ve heard about the magic number beyond which money doesn’t matter. It’s a widely cited body of research, complemented by the many, many studies about what actually does increase happiness (think gratitude, meaningful relationships, work-life balance, etc.). Yet, here we are, spending huge amounts of money on graduate degrees, hoping our newly acquired credentials will qualify us for careers that pay us well to do what we care about. I feel this tension particularly strongly as a dual degree student with the business school. My peers are working their butts off to get high-paying jobs, despite the scientific evidence that we will inevitably be unfulfilled if we follow the highest salary. So what gives? Why are we so stubbornly unwilling to acknowledge the evidence against a path to happiness paved with dollar bills? And more importantly, what will it take (or as Ray would say, what are the conditions under which) we will finally wake up and change our behavior? I have a few thoughts based on what we’ve learned in class about why we struggle to change right now:
- Norms: We live in a society where the norm very clearly establishes money as a proxy for success. In that regard, the normative belief is that others in our lives expect us to make decisions aligned with maximizing income. Suggesting that you are going to forego college to pursue your passion for music, for example, is viewed as risky, irresponsible, even immature behavior rather than brave, thoughtful or reflective of self-knowledge. It is no wonder that we continue to buy into (pun intended) the notion that money equals success.
- Attentional Fatigue: In the face of such overwhelming social norms, it would take a substantial amount of directed attention for a person to really reflect on their goals and how to get there, not to mention be open to take an “alternative” path. At the same time, we live in an era of infinite stimulus and too many demands on our attention to count. Our culture is one of constant connectedness, demanding that you not only know everything, but also be available at all hours. This does not exactly foster an environment conducive to restoration and reflection.
- Awareness of Consequences: While we know that the pursuit of wealth does not yield happiness based on research, individuals do not necessarily know this from personal experience. The adverse consequences of prioritizing wealth over happiness are not likely to be felt until much later in life, while we are making decisions about our careers and personal lives right now.
Now that I’ve painted a fairly bleak picture of why we’re doomed to forever fall into the trap of a mindless pursuit of profitability, my question for our class is what do we do next? If we were to design an intervention to encourage ourselves and our peers will reevaluate the paths we’re on, what would it look like? It seems to me that building a community of people willing to challenge the status quo has a lot to do with it. I also think frequent feedback and reinforcement would be an important component of any attempt to shift the norm. What else will it take?