51–60 of 216 posts
Perhaps it should have stated that being happier correlates with valuing an additional minute of leisure time at a higher amount of money.
And that is as much as saying that people paid more for their work are happier, which seems almost tautological.
I wonder where this puts founders. We sacrifice a lot of time and money (missed vacations, family time as well as salaries) in the attempt to create something we can call our own. I always debate if it worth it, but there just this excitement associated with the unknown potential of what you are doing that keeps me going...and happy. Sometimes though I do wish I could take that family vacation, or purchase my own apa…
Reality: You're going to die. Good Idea: Take a vacation. Enjoy life.
Whatever makes you happy. :)
I searched for the phrase "diminishing marginal returns" but could not find it in the article which seems like a bit of an omission. This is a fundamental economic concept - the more of something you have, the less value you derive from each incremental unit. So, based on personal preferences, once you reach a certain level of income you will start to substitute away from labor (income) towards leisure/free time (non…
What we need is an inversion of the "diminishing marginal returns" concept to permeate economic theory. Maybe some people just call that Keynesian theory?
I think the real takeaway isn't about upper middle class versus regular middle class. Rather there is quite a lot of negative value / lost opportunities by drawing the poverty line so low.
Because valuing time more than money is a luxury afforded primarily by people with plenty of money.
Personally, I've been much happier since I dropped to part time, giving up (some) money for (some) time. I'll be even happier when I take that next step toward full retirement.
Study 1: "Students participated in exchange for the chance to win one of three prizes valued at $700." Study 2a: "Two hundred and sixty UBC students participated in exchange for entry into a lottery or for course credit (78% female)" Study 2b: "In Study 2b, 518 adults were recruited from a science museum in Vancouver, Canada" Study 3a: "In Study 3a, 242 UBC students participated in exchange for course credit or candy…
Time is more valuable for some--book lovers, hobbyists,daydreamers, etc... Money is more valuable for others...earning it, the implied security of holding it, etc...
It seems to me, based on experience, that the route to general happiness is to eliminate as many things as possible that past experience has led you to believe won't make you happy...
A life spent in contentment, interspersed with moments of joy (or, happiness) is likely all that humans can resonably hope for...
I searched for the phrase "diminishing marginal returns" but could not find it in the article which seems like a bit of an omission. This is a fundamental economic concept - the more of something you have, the less value you derive from each incremental unit. So, based on personal preferences, once you reach a certain level of income you will start to substitute away from labor (income) towards leisure/free time (non…
>"diminishing marginal returns" I came to a different conclusion. The wealth of time (total man-hours or aggregated lifespans) is more evenly distributed across a population than is the wealth of money. Therefore, to the extent that happiness is influenced by comparing how well-off you are vs others, a person picked at random will be pretty damn close to the same standing as whoever is the Time-Richest Person in the…