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EconoME: Why money can’t buy happiness | Nina Porter | TEDxTauntonSchool


I was raised by my grandparents until

I was raised by my grandparents until the age of three and during those three

the age of three and during those three

the age of three and during those three years I learned one of the greatest

years I learned one of the greatest

years I learned one of the greatest lessons of my life and that was to

lessons of my life and that was to

lessons of my life and that was to appreciate the small things and to be

appreciate the small things and to be

appreciate the small things and to be thankful my grandfather

thankful my grandfather

thankful my grandfather otherwise known as Adya was a frugal

otherwise known as Adya was a frugal

otherwise known as Adya was a frugal person he never wasted he saves money

person he never wasted he saves money

person he never wasted he saves money food water as if he couldn’t afford

food water as if he couldn’t afford

food water as if he couldn’t afford those things sometimes on his morning

those things sometimes on his morning

those things sometimes on his morning walk to the market

walk to the market

walk to the market he’d pick up lost or wanted things that

he’d pick up lost or wanted things that

he’d pick up lost or wanted things that have been chucked by the neighbors and

have been chucked by the neighbors and

have been chucked by the neighbors and he’d bring them home and as you can

he’d bring them home and as you can

he’d bring them home and as you can imagine this would drive my grandma

imagine this would drive my grandma

imagine this would drive my grandma crazy because he was bringing back what

crazy because he was bringing back what

crazy because he was bringing back what we valued as rubbish he was an escaped

we valued as rubbish he was an escaped

we valued as rubbish he was an escaped Angier and nor was he poor or lacked the

Angier and nor was he poor or lacked the

Angier and nor was he poor or lacked the ability to afford these things but

ability to afford these things but

ability to afford these things but purely because he appreciated the

purely because he appreciated the

purely because he appreciated the essence of the ordinary objects in the

essence of the ordinary objects in the

essence of the ordinary objects in the essence of a changing world consumerism

essence of a changing world consumerism

essence of a changing world consumerism is ever growing inequality is growing

is ever growing inequality is growing

is ever growing inequality is growing but what about our happiness government

but what about our happiness government

but what about our happiness government authorities are desperately trying to

authorities are desperately trying to

authorities are desperately trying to measure the correlation between

measure the correlation between

measure the correlation between happiness and income but measuring the

happiness and income but measuring the

happiness and income but measuring the GDP rate of a country purely does not

GDP rate of a country purely does not

GDP rate of a country purely does not give a clear depiction of happiness rate

give a clear depiction of happiness rate

give a clear depiction of happiness rate we assume that a sporty a car a bigger

we assume that a sporty a car a bigger

we assume that a sporty a car a bigger house and a better paying job will bring

house and a better paying job will bring

house and a better paying job will bring us joy because they didn’t past right

us joy because they didn’t past right

us joy because they didn’t past right well no because embellishing and the

well no because embellishing and the

well no because embellishing and the material world creates a society where

material world creates a society where

material world creates a society where we are constantly comparing to one

we are constantly comparing to one

we are constantly comparing to one another we want more and more and greed

another we want more and more and greed

another we want more and more and greed takes over greed is the unnecessary

takes over greed is the unnecessary

takes over greed is the unnecessary great need of more it makes us do dumb

great need of more it makes us do dumb

great need of more it makes us do dumb things where

things where

things where money and diminishes our ability to

money and diminishes our ability to

money and diminishes our ability to appreciate the small things we keep

appreciate the small things we keep

appreciate the small things we keep buying the latest technology the newest

buying the latest technology the newest

buying the latest technology the newest dropped clothing line but it never quite

dropped clothing line but it never quite

dropped clothing line but it never quite satisfies the recent release of the

satisfies the recent release of the

satisfies the recent release of the iPhone X serves as a prime example of

iPhone X serves as a prime example of

iPhone X serves as a prime example of this and I’m sure it has emptied the

this and I’m sure it has emptied the

this and I’m sure it has emptied the pockets of many I have a friend who has

pockets of many I have a friend who has

pockets of many I have a friend who has brought every single iPhone to be ever

brought every single iPhone to be ever

brought every single iPhone to be ever released

released

released and recently he was desperately trying

and recently he was desperately trying

and recently he was desperately trying to pre-order the newest one and I

to pre-order the newest one and I

to pre-order the newest one and I remember asking him why are you spending

remember asking him why are you spending

remember asking him why are you spending a thousand pounds on a new phone when

a thousand pounds on a new phone when

a thousand pounds on a new phone when you only just brought one ten months ago

you only just brought one ten months ago

you only just brought one ten months ago he confidently replied of well there’s a

he confidently replied of well there’s a

he confidently replied of well there’s a longer life battery span on this one so

longer life battery span on this one so

longer life battery span on this one so I can increase my social activity then

I can increase my social activity then

I can increase my social activity then he hesitated for a little while and then

he hesitated for a little while and then

he hesitated for a little while and then continued to say well everyone else is

continued to say well everyone else is

continued to say well everyone else is going to have one so I may as well be

going to have one so I may as well be

going to have one so I may as well be the first otherwise or seemed like a

the first otherwise or seemed like a

the first otherwise or seemed like a right loser

right loser

right loser so there the true reason why he was

so there the true reason why he was

so there the true reason why he was spending so much money and buying

spending so much money and buying

spending so much money and buying another iPhone was so that he could

another iPhone was so that he could

another iPhone was so that he could fulfill his own social expectations and

fulfill his own social expectations and

fulfill his own social expectations and to live up to the 715 million other

to live up to the 715 million other

to live up to the 715 million other iPhones currently in use

iPhones currently in use

iPhones currently in use Steve quartz an anti-consumerist and the

Steve quartz an anti-consumerist and the

Steve quartz an anti-consumerist and the professor of philosophy and neuroscience

professor of philosophy and neuroscience

professor of philosophy and neuroscience at the California Institute of

at the California Institute of

at the California Institute of Technology studied consumer neuroscience

Technology studied consumer neuroscience

Technology studied consumer neuroscience he led to a surprising conclusion that

he led to a surprising conclusion that

he led to a surprising conclusion that the reason we consume so much is so that

the reason we consume so much is so that

the reason we consume so much is so that we can fail we’ve come closer to those

we can fail we’ve come closer to those

we can fail we’ve come closer to those that are richer than us and so that we

that are richer than us and so that we

that are richer than us and so that we distance ourselves from those beneath us

distance ourselves from those beneath us

distance ourselves from those beneath us imagine if we doubled everyone’s income

imagine if we doubled everyone’s income

imagine if we doubled everyone’s income overnight it would have no effect on

overnight it would have no effect on

overnight it would have no effect on your ability to catch up with the rich

your ability to catch up with the rich

your ability to catch up with the rich because theirs would have doubled as

because theirs would have doubled as

because theirs would have doubled as well sociologist Max Weber suggests that

well sociologist Max Weber suggests that

well sociologist Max Weber suggests that our social status is defined by the

our social status is defined by the

our social status is defined by the three P’s of stratification power

three P’s of stratification power

three P’s of stratification power prestige and property therefore

prestige and property therefore

prestige and property therefore psychologically it explains that the

psychologically it explains that the

psychologically it explains that the reason we splash our cash to buy the new

reason we splash our cash to buy the new

reason we splash our cash to buy the new thing

thing

thing that we don’t need so that we can build

that we don’t need so that we can build

that we don’t need so that we can build or preserve our social status a recent

or preserve our social status a recent

or preserve our social status a recent survey of Millennials asked were their

survey of Millennials asked were their

survey of Millennials asked were their most important life goal was an 80% said

most important life goal was an 80% said

most important life goal was an 80% said it was to be rich and successful and 50%

it was to be rich and successful and 50%

it was to be rich and successful and 50% of them said it was to be famous our

of them said it was to be famous our

of them said it was to be famous our desire of wanting to be rich is perhaps

desire of wanting to be rich is perhaps

desire of wanting to be rich is perhaps a product of media advertisement family

a product of media advertisement family

a product of media advertisement family competition or perhaps our educational

competition or perhaps our educational

competition or perhaps our educational system throughout my educational career

system throughout my educational career

system throughout my educational career I have been constantly given the

I have been constantly given the

I have been constantly given the impression that in in order to be

impression that in in order to be

impression that in in order to be successful I have to be striving for the

successful I have to be striving for the

successful I have to be striving for the best paying jobs however that’s not true

best paying jobs however that’s not true

best paying jobs however that’s not true because success is subjective my success

because success is subjective my success

because success is subjective my success could differ from yours we rely on the

could differ from yours we rely on the

could differ from yours we rely on the stories and memories of successes as

stories and memories of successes as

stories and memories of successes as examples of who we should follow alumni

examples of who we should follow alumni

examples of who we should follow alumni or those who have achieved wealth

or those who have achieved wealth

or those who have achieved wealth through their meritocracy their journey

through their meritocracy their journey

through their meritocracy their journey sometimes seem are so easy from an

sometimes seem are so easy from an

sometimes seem are so easy from an outsider’s perspective however Harvard

outsider’s perspective however Harvard

outsider’s perspective however Harvard psychology professor and the author of

psychology professor and the author of

psychology professor and the author of stumbling across happiness suggests that

stumbling across happiness suggests that

stumbling across happiness suggests that research reveals that memory is less

research reveals that memory is less

research reveals that memory is less like a collection of photographs than it

like a collection of photographs than it

like a collection of photographs than it is a collection of impressionist

is a collection of impressionist

is a collection of impressionist paintings rendered by an artist who has

paintings rendered by an artist who has

paintings rendered by an artist who has taken considerable license with its

taken considerable license with its

taken considerable license with its subject so we forget that the rays came

subject so we forget that the rays came

subject so we forget that the rays came from stressful nights at the office or a

from stressful nights at the office or a

from stressful nights at the office or a steeper tax tab similarly when we buy

steeper tax tab similarly when we buy

steeper tax tab similarly when we buy that sporty-er car while that high

that sporty-er car while that high

that sporty-er car while that high deflated while before our first trip to

deflated while before our first trip to

deflated while before our first trip to the mechanic think of happiness

the mechanic think of happiness

the mechanic think of happiness generated from money as like a caffeine

generated from money as like a caffeine

generated from money as like a caffeine buzz we get a raise we spend it we adapt

buzz we get a raise we spend it we adapt

buzz we get a raise we spend it we adapt it to improve circumstances and we seek

it to improve circumstances and we seek

it to improve circumstances and we seek more money again we work up a sweat on

more money again we work up a sweat on

more money again we work up a sweat on what the University of Southern

what the University of Southern

what the University of Southern California economist Richard Easterling

California economist Richard Easterling

California economist Richard Easterling calls the hedonic treadmill in so many

calls the hedonic treadmill in so many

calls the hedonic treadmill in so many areas we know when enough is enough when

areas we know when enough is enough when

areas we know when enough is enough when we’re healthy would

we’re healthy would

we’re healthy would strive for extreme help after a good mil

strive for extreme help after a good mil

strive for extreme help after a good mil were full

were full

were full we don’t order another steak to augment

we don’t order another steak to augment

we don’t order another steak to augment our satisfaction and a Stephen Hawking

our satisfaction and a Stephen Hawking

our satisfaction and a Stephen Hawking suggests we are in the danger of

suggests we are in the danger of

suggests we are in the danger of destroying ourselves with greed and

destroying ourselves with greed and

destroying ourselves with greed and stupidity in the Western world the story

stupidity in the Western world the story

stupidity in the Western world the story of wealth is failing to translate into

of wealth is failing to translate into

of wealth is failing to translate into extra happiness we think that the more

extra happiness we think that the more

extra happiness we think that the more money we have the happier we are a 20%

money we have the happier we are a 20%

money we have the happier we are a 20% raise however does not give a 20% raise

raise however does not give a 20% raise

raise however does not give a 20% raise of happiness there’s a happiness

of happiness there’s a happiness

of happiness there’s a happiness threshold despite huge increases in

threshold despite huge increases in

threshold despite huge increases in income in almost every developed country

income in almost every developed country

income in almost every developed country happiness levels have stayed largely

happiness levels have stayed largely

happiness levels have stayed largely static over the past 50 years and in

static over the past 50 years and in

static over the past 50 years and in 1974 Richard E sterling suggests that

1974 Richard E sterling suggests that

1974 Richard E sterling suggests that people in wealthier countries were no

people in wealthier countries were no

people in wealthier countries were no happier than those in poorer ones a

happier than those in poorer ones a

happier than those in poorer ones a survey of more than 2,000 adults led to

survey of more than 2,000 adults led to

survey of more than 2,000 adults led to the surprising conclusion that the small

the surprising conclusion that the small

the surprising conclusion that the small things in life bring us the true joy and

things in life bring us the true joy and

things in life bring us the true joy and happiness think about the most recent

happiness think about the most recent

happiness think about the most recent thing that made you happy or the kind of

thing that made you happy or the kind of

thing that made you happy or the kind of fun that you had in mind I doubt it was

fun that you had in mind I doubt it was

fun that you had in mind I doubt it was the time that you got promoted or even

the time that you got promoted or even

the time that you got promoted or even the first time that you brought your new

the first time that you brought your new

the first time that you brought your new home people often recall that their

home people often recall that their

home people often recall that their fondest memories are the ordinary

fondest memories are the ordinary

fondest memories are the ordinary moments that gave them joy and that

moments that gave them joy and that

moments that gave them joy and that instant time so whether that be the

instant time so whether that be the

instant time so whether that be the picnic to the park in the park or

picnic to the park in the park or

picnic to the park in the park or watching sunset or perhaps even

watching sunset or perhaps even

watching sunset or perhaps even generally being with our family as the

generally being with our family as the

generally being with our family as the little things remember the little

little things remember the little

little things remember the little moments in our lives which can pass us

moments in our lives which can pass us

moments in our lives which can pass us by but which can also mean so much more

by but which can also mean so much more

by but which can also mean so much more than 82 percent of people said the best

than 82 percent of people said the best

than 82 percent of people said the best things in their life was what they did

things in their life was what they did

things in their life was what they did not expect

not expect

not expect according to Glenn Williams research and

according to Glenn Williams research and

according to Glenn Williams research and Nottingham Trent University the way to

Nottingham Trent University the way to

Nottingham Trent University the way to happiness mean not just the big things

happiness mean not just the big things

happiness mean not just the big things that we plan in lives on the contrary

that we plan in lives on the contrary

that we plan in lives on the contrary they are rather unexpected

they are rather unexpected

they are rather unexpected two things that bring us every day smile

two things that bring us every day smile

two things that bring us every day smile and they fill our lives and make us

and they fill our lives and make us

and they fill our lives and make us happier so why is it so hard to accept

happier so why is it so hard to accept

happier so why is it so hard to accept the idea that wealth cannot increase a

the idea that wealth cannot increase a

the idea that wealth cannot increase a mental health so what does make us happy

mental health so what does make us happy

mental health so what does make us happy motto world recently posted an article

motto world recently posted an article

motto world recently posted an article on the 80 little things for a happier

on the 80 little things for a happier

on the 80 little things for a happier life they claimed that instead of

life they claimed that instead of

life they claimed that instead of allowing ourselves to enjoy every plate

allowing ourselves to enjoy every plate

allowing ourselves to enjoy every plate pleasant moment in our lives it seems

pleasant moment in our lives it seems

pleasant moment in our lives it seems like we’re always rushing to catch up

like we’re always rushing to catch up

like we’re always rushing to catch up the focus is always on tomorrow and

the focus is always on tomorrow and

the focus is always on tomorrow and never than now many of us can wobble for

never than now many of us can wobble for

never than now many of us can wobble for a second when our favorite brand isn’t

a second when our favorite brand isn’t

a second when our favorite brand isn’t at the supermarket or when someone skips

at the supermarket or when someone skips

at the supermarket or when someone skips the head and the cue we feel agitated

the head and the cue we feel agitated

the head and the cue we feel agitated when we have to wait a nap – and

when we have to wait a nap – and

when we have to wait a nap – and crossing or when we have to stay late at

crossing or when we have to stay late at

crossing or when we have to stay late at work so if these more petty little

work so if these more petty little

work so if these more petty little things can impact us why can’t the good

things can impact us why can’t the good

things can impact us why can’t the good things why can’t we enjoy nice weather

things why can’t we enjoy nice weather

things why can’t we enjoy nice weather smile of a stranger a scented fragrance

smile of a stranger a scented fragrance

smile of a stranger a scented fragrance or a cup of hot coffee or tea

or a cup of hot coffee or tea

or a cup of hot coffee or tea accompanied by splendid view super haps

accompanied by splendid view super haps

accompanied by splendid view super haps the reason that I viewed Adia as a

the reason that I viewed Adia as a

the reason that I viewed Adia as a frugal person was because I was trapped

frugal person was because I was trapped

frugal person was because I was trapped on the hedonic treadmill myself he saved

on the hedonic treadmill myself he saved

on the hedonic treadmill myself he saved money because he didn’t feel the

money because he didn’t feel the

money because he didn’t feel the compulsive urge to buy more he was

compulsive urge to buy more he was

compulsive urge to buy more he was satisfied with what he already had more

satisfied with what he already had more

satisfied with what he already had more importantly he didn’t need more like all

importantly he didn’t need more like all

importantly he didn’t need more like all of us we don’t need the most expensive

of us we don’t need the most expensive

of us we don’t need the most expensive phones or the sportiest car we do this

phones or the sportiest car we do this

phones or the sportiest car we do this so that we can indulge and looking

so that we can indulge and looking

so that we can indulge and looking better than everyone else

better than everyone else

better than everyone else anything more is purely just a luxury

anything more is purely just a luxury

anything more is purely just a luxury and all the items that he picked up from

and all the items that he picked up from

and all the items that he picked up from the floor unwanted by others when his

the floor unwanted by others when his

the floor unwanted by others when his eyes beautiful genius creations I’d like

eyes beautiful genius creations I’d like

eyes beautiful genius creations I’d like to end on a quote from the Dalai Lama

to end on a quote from the Dalai Lama

to end on a quote from the Dalai Lama man because he sacrifices his health in

man because he sacrifices his health in

man because he sacrifices his health in order to make money

he sacrificed his money in order to

he sacrificed his money in order to recuperate his health and then he is so

recuperate his health and then he is so

recuperate his health and then he is so anxious about the future that he does

anxious about the future that he does

anxious about the future that he does not enjoy the present the result being

not enjoy the present the result being

not enjoy the present the result being he does not live in the present nor the

he does not live in the present nor the

he does not live in the present nor the future he lives as if he is never going

future he lives as if he is never going

future he lives as if he is never going to die and then he dies as having never

to die and then he dies as having never

to die and then he dies as having never really lived thank you

really lived thank you

really lived thank you [Applause]

”

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