This one is by Barry Schwartz, a Sociology professor who also wrote a book about “The Paradox of Choice”. He argues that the abundance of choice created in modern industrial societies is not making us better off. On the contrary, it is actually having a negative impact on our lives!
The video is 20 minutes, and I highly recommend you make time to watch it…
Some memorable thoughts from the video:
- “Opportunity costs substract from the satisfaction of what we choose, even when what we choose is terrific”
- “The secret to happiness is low expectations”
- And the conclusion is this: “There’s no question that some choice is better than none. But it doesn’t follow from that that more choice is better than some choice”.
It is especially interesting to watch as a (future) marketeer. It is the idea of “choice confusion” which has been raised in the academia, articulated clearly and convincingly. But it is also relevant to someone interested in politics and sustainable development: Barry argues that a global redistribution of wealth would not only help the poor countries, but also the so-called developed world!
And finally, it is a good watch for anyone interested in living a happy balanced life in these crazy times…