The Value of Experiences

Posted by Carol Coletta on February 15, 2009

Of all the impacts of this recession, one has received no attention.  I've been musing about what people will do with their time when they don't spend it working and shopping.  I've seen the impact of unemployment of a family member twice. In both cases, exercise became a positive focus of their lives.  And one became a good cook during his time of unemployment. 

Then today, I read about a new San Francisco State University study that found money can lead to greater happiness for the person possessing it and those around them, if it is used to buy experiences, not possessions.

The study by SFU assistant professor of psychology Ryan Howell, “demonstrates that experiential purchases, such as a meal out or theater tickets, result in increased well-being because they satisfy higher order needs, specifically the need for social connectedness and vitality — a feeling of being alive."

So experiences are critical to our sense of well-being.  The good news is that many experiences require no money at all.  Exercise is a good example.  A fast walk requires very few resources.  The same is true of learning something new, like cooking.

What can cities do to provide experiences?  They can organize volunteer programs.  They can provide free opportunities to visit museums, attend concerts and lectures, participate in discussions.  In retrospect, it's easy to see how a presidential campaign so open to anyone proved to be an important diversion from the economic trouble brewing.  It was an experience writ large.

Now the question seems to be, how do we duplicate the power of the campaign experience -- powered by an urgent desire to change the world over a series of dates culminating in a single big event (election day) -- with local experiences? 

That's a question worth exploring.  No, it may not be as important as how the Stimulus is spent or whether some banks are allowed to go under, but I believe a bit of sleight of hand will be required to buy time with Americans to give federal actions time to work.  Experiences can give people who may find themselves in tough circumstance a purpose while they await a better economy.