Monday, June 18, 2007

A Brief History of Economic Time

The underlying expectation -- that the present is supposed to be better than the past -- is a new phenomenon in history. No 18th-century politician would have asked "Are you better off than you were four years ago?" because it never would have occurred to anyone that they ought to be better off than they were four years ago.
(Also see Living in the Age of Abundance.)
clipped from online.wsj.com

A Brief History of Economic Time

Modern humans first emerged about 100,000 years ago. For the next 99,800 years or so, nothing happened. Well, not quite nothing. There were wars, political intrigue, the invention of agriculture -- but none of that stuff had much effect on the quality of people's lives. Almost everyone lived on the modern equivalent of $400 to $600 a year, just above the subsistence level. True, there were always tiny aristocracies who lived far better, but numerically they were quite insignificant.

Then -- just a couple of hundred years ago, maybe 10 generations -- people started getting richer. And richer and richer still. Per capita income, at least in the West, began to grow at the unprecedented rate of about three quarters of a percent per year. A couple of decades later, the same thing was happening around the world.

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The Three Secrets to Happiness

You can read more about three secrets at http://zenhabits.net/2007/03/the-three-secrets-to-happiness/
clipped from zenhabits.net

We all know that money can’t buy happiness … but many times we act as if we’d be happier with a bit more money. We are conditioned to want to be rich (when we know the rich aren’t happy either); we are trained to want the latest gadget or style that television tells us to want; we want to earn more money because then we’ll have the good life.

But none of that will bring us happiness. No matter how much we earn, no matter how much we have in the bank, no matter how nice our clothing or cars or toys, none of it will make us happier. And the sad thing is that it could take us decades of pursuing wealth and luxury items before we realize this.

So what will bring us happiness? Luckily, it’s three things that don’t cost a thing. These three things have been proven by research — surveys of hundreds of thousands of people about what they have, what their lives are like, and how happy they are.

Good relationships.
Positive thinking.
Flow.
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