“We hold these truths to be self-evident, that all men [and women] are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.”
- The Declaration of Independence
In the United States and around the world, we are blessed with certain freedoms - one of the most fundamental being the right to pursue happiness. This principle is deeply ingrained in our society, shaping the way we think and live. But the recent pandemic has caused a paradigm shift in our understanding of this concept. The pandemic-induced lockdown served as a stark reminder of the importance of our right to pursue happiness, highlighting our privilege in being able to do so. Prior to the pandemic, this right may have been taken for granted, but the restrictions on movement and social interaction have brought its significance into sharp focus.
Happiness, as defined by economists, is not just a feeling of joy but a measure of individual satisfaction and societal welfare. It's what we economists call utility, or the pleasure we get from consuming goods and services. It's a complex and multifaceted concept that goes beyond personal emotions and encompasses the well-being of society as a whole. The pandemic has brought this notion to the forefront of our collective consciousness, making us question and re-evaluate what truly brings us happiness and fulfillment.
The economy is a dynamic and ever-evolving landscape shaped by the countless decisions made by individuals, businesses, and governments. And at the heart of it, all lies the elusive concept of utility. The more pleasure people get from the goods and services they consume, the more likely they are to buy them, and that's what keeps the economy running. Therefore, happiness is a critical principle in economics. It's a subjective experience that varies from person to person, making it all the more intriguing to explore.
The concept of utility has a rich history dating back to ancient philosophy. The idea of eudaimonia, or living a virtuous and fulfilling life, was central to the teachings of philosophers such as Aristotle. He believed that the ultimate goal of human existence was to achieve eudaimonia, which could be achieved through the practice of virtue and the cultivation of practical wisdom.
Over time, the concept of utility has evolved and been refined, with various schools of thought offering different perspectives on what constitutes utility and how it can be achieved. The rise of modern economics in the 18th and 19th centuries brought a new focus on the quantitative measurement of utility, with the development of utility theory and the concept of "utility maximization" becoming central to economic analysis.
Today, the study of utility continues to be an important area of research and debate, with scholars from various fields, including economics, philosophy, and psychology, exploring the many different ways in which utility can be defined, measured, and achieved. It is clear that Eudamonia has played a vital role in shaping our understanding of utility and continues to be an important area of study.]
The concept of happiness has significantly changed during the pandemic as people's priorities and perspectives have shifted due to unprecedented and challenging circumstances. The pandemic has forced individuals to reassess their values and priorities and focus more on the things that truly matter to them, such as health, family, and community. People have also realized the importance of mental and emotional well-being, leading to an increased focus on self-care, mindfulness, and mental health. Additionally, the pandemic has highlighted the inequalities and disparities in society and has made people more aware of the importance of societal welfare, not just individual pleasure.
The implementation of various federal policies during the pandemic serves as a clear indication of the transformative shift in societal welfare. These policies, ranging from expanding access to telehealth services to funding mental health research, demonstrate a concerted effort to address the pandemic's emotional and mental health challenges and improve overall well-being and happiness.
- The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was passed in March 2020, included provisions to expand access to telehealth services for mental health care. This allowed more people to receive mental health services remotely, reducing the need for in-person visits and making accessing care easier.
- The CARES Act also included funding to support mental health research and increase access to mental health services.
- The Substance Abuse and Mental Health Services Administration (SAMHSA) funded states and communities to expand access to mental health services, such as crisis counseling, and support mental health professionals working on the front lines.
- The National Suicide Prevention Lifeline, which provides 24/7 crisis counseling and support, received additional funding to help meet increased demand during the pandemic.
- The National Institute of Mental Health (NIMH) has been funding research to understand the pandemic's mental health impacts and develop interventions to support mental health during this time.
Maintaining a healthy state of mind is vital to leading a fulfilling and well-rounded life. How was your happiness perspective altered or impacted by the pandemic? As you reflect on how the pandemic has impacted your happiness, consider the broader implications of these changes on society and the steps we can take to ensure that well-being remains a priority.