Control Your Controllables

One of my favorite economist reads, Paul Kedrosky, directed me to this image, which is from another excellent financial analysis blog done by Susan Woodward and Robert Hall. This is a comparison of labor numbers from now and 1981 rescaled to the size of today's labor force. Stunning. For those of you who, like me, were still in high school in 1981 - it was the biggest recession we have had in the US since the Great Depression. Not pretty. The graph shows us a partial image of how painful events are right now. Many people have lost homes, many are without work, and I have a feeling it is going to get worse before it gets better. There is a lot of suffering out there. I get a lot of calls from desperate people who are trying to put on a brave face. Sometimes I feel like I am barely hanging on to my life raft and folks are pulling on my legs to clamber on. In the midst of all this turmoil, with so much personal pain around me, how do I keep steady?

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How to be happy

I often jump at the chance to report on new well-written articles regarding happiness, especially when they are based upon science rather than mere anecdotes.

Last year, I started a subscription to Scientific American Mind  It’s a well-written magazine that addresses lively and timely topics.  Be February-March 2007 issue contains an article entitled “Why It’s so Hard to Be Happy.” 

Why is it so hard?  After all (as the article points out), the buying power of average Americans has tripled since 1950, though we are not three times happier.  In fact, our children are more anxious.  Is happiness about achieving goals, for instance?  Apparently not.  The growing field of “positive psychology” shows that happiness

Is not something that can be achieved by hard work or good luck.  The happiest people seem to be those who are fully engaged in the present, rather than focused on future goals.

Evolutionary psychology suggests that humans have inherited “a remarkable capacity to habituate to, or become accustomed to, the status quo.”  While this is great when we are facing adverse conditions, it causes ongoing pleasant experiences to fade in the consciousness.  In fact, we seem to be especially well-tuned to notice dangers much more than pleasures. “The natural human condition is to take positive experiences for granted and to focus on the bothersome aspects of life.”  The article suggests that humans who were never satisfied had an survival advantage over their easily-satisfied peers. 

A twin study from 1996 indicates that 80% of the variation …

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