Michael Norton – How To Buy Happiness

Michael Norton – How To Buy Happiness

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[Michael Norton - How To Buy Happiness]

[Tom] Source: LYBIO.net
So I wanna talk today about money and happiness which are two things that a lot of us spend a lot of our time thinking about either trying to earn them or trying to increase them and a lot of us resonate with this phrase, so we see it in religions and self help books that: “money can’t buy happiness.” And I wanna suggest today that in fact that’s wrong – and that

[Audience]
(laughs)

[Tom] Source: LYBIO.net
I’m – I’m at a business school so that’s what we do so that – that – that’s wrong, and in fact if you think that money can’t buy happiness, you’re just not spending it right. So that instead of just spending it the way you usually spend it, maybe if you spent it differently that might work a little bit ah better. And before I tell you the ways that you can spend it that will make you happier. Lets think about the ways we usually spend it that don’t in fact make us happier. We had a little natural experiment so CNN a little while ago wrote this ah interesting article on what happens to people when they win the lottery. Turns out people think when they win the lottery their lives are gonna be amazing. This article is about how their lives get ruined. So what happens when people win the lottery, is number 1, they spend all the money and go into debt. And number 2) all of their friends and everyone that they ever met, find them and bug them for money and it ruins their social relationships, in fact, so they have more debt and worse friendships that they had before they won the lottery. What was interesting about the article was people started commenting on the article, readers of the thing, and instead talking about how they made them realize that money doesn’t lead to happiness, everyone instantly started saying: “You know what would I do if I win the lottery?” And fantasizing about what they do, so here’s just two of the one’s that we saw that are just really interesting to think about.

[Tom] Source: LYBIO.net
One person wrote in: “When I win I am going to buy my own little mountain and have a little house on top.” And another person wrote: “I would fill a big bath tub with money and get in the tub while smoking a big fat cigar and sipping a glass of champagne. This is even worse now: “Then I’ll have a picture taken with dozens of glossies made and anyone begging for money or trying to extort from me will receive a copy of the picture and nothing else.

00:00 – 02:07 in cue for completion.

Michael Norton – How To Buy Happiness. So what happens when people win the lottery, is number 1, they spend all the money and go into debt. And number 2) all of their friends and everyone that they ever met, find them and bug them for money and it ruins their social relationships. Complete Full Transcript, Dialogue, Remarks, Saying, Quotes, Words And Text.