Inspired #2: Standard of Living and GDP

One theme that permeates policy, which not in a direct light, is the belief that GDP growth corresponds to a higher living standard. It is based on the idea that access to better health, education, and income creates a more better life. Generally, I will not cover it up and say that it does not help. The opportunities we are given as opposed to people in less develop worlds cannot be undercut. However, the quality of life always seems to be tied to materialistic viewpoints such as career, class, and living arrangements.

Investopedia defines this as "the level of wealth, comfort, material goods and necessities available to a certain socioeconomic class in a certain geographic area.". One particular area they highlighting was number of hours work, which is a large contributor to life quality. Yes, you can have lavish health and nice trips, but it is ultimately how you feel and reflect on the inside that enables a good life. Furthermore, investment bankers can make millions, but the 100 hour weeks is at the expense of time they could have with their children or just pure leisure.

However, it is not treated like this in policy context. Quality of life really boils down to the ole' GDP per capita, and this is an erroneous method to evaluate people.According to the New York Times, "mounting evidence suggests, however, that per-capita income is a less reliable measure of well-being when income inequality has been rising rapidly, as it has in recent decades." The inequality in wealth is very noticeable, yet I think that the emphasis on money has ripped at the fabric of the mental health of many.

Oh really? I proposed the amazing idea that money does not buy happiness! This is clearly a terrific point that will win Noble Prizes. But, on a realistic note. People are overworked. European countries has a leisure class attitude that has spilled over into today, so you see people relax right in the middle of the day. They relax for the sake of relaxing while a sizable number of Americans eat while working. In his book "The Joy of Not Working", Ernie Zelinski astutely points out how the large flux of Baby Boomers in the 70s caused a job shortage for such a large generation. So, people competed for jobs by working harder. The companies were too eager to take advantage of this mentality that has become stronger since the resilient work ethic of the 30s.

Students in college are a prime example: always on the move. Schedules filled up and darting from here to there, crossing many things off the list. But...is it worth it? Quality of life should be defined by satisfaction, not some economic measure that only analyzes resource constraints. Laboring for years on end, hoping for a happy ending underscores the time one spends now. Thus, work and the associated income is a poor measure, exception for one who is passionate about what they do. Along with basic economic measures, our thoughts, movements, and expressions as a culture should determine overall happiness. The Occupy movement outlines an underlying frustration that does not indicate a blissful homeland.