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Shedding Possessions (or the Marginal Utility of Stuff)
The NY Times has embraced the Piketty Agenda of sharply raising taxes on the wealthy. Such new taxes will increase government revenue and allow the state to expand government services, public goods and providing a more generous safety net. In today's edition, this elite newspaper argues that the rich would be made directly better off if they have fewer toys in their attic. We are introduced to a quirky young man named Fabrice Grinda . Mr. Grinda has succeeded in the United States (he left France) but he no longer wants what he once did.
A direct quote:
“People turn 40 and usually buy a shiny sports car,” Mr. Grinda said during an interview in a penthouse suite at Sixty LES, a downtown boutique hotel. “They don’t say, ‘I’m downsizing my life and giving up all my possessions to focus on experiences and friendships.’ ”
But that is exactly what Mr. Grinda did. He moved out of the Bedford house in December 2012, ditched the city apartment and got rid of the McLaren. He donated clothes, sports equipment and kitchen utensils to the Church of St. Francis Xavier in Lower Manhattan. He gave his furniture to Housing Works and he packed a Tumi carry-on suitcase with 50 items, including two pairs of jeans, a bathing suit and 10 pairs of socks.
He dubbed it “the very big downgrade”: He was going to travel the world, working on the fly while staying with friends and family. He was purposely arranging things so that he would have a chance to focus on what was meaningful in life.
“When I looked back at the things that mattered the most to me,” he said, “they were experiences, friendships and family — none of which I had invested much in, partly because I was too busy, and partly because I felt anchored by my possessions.”
I agree that Mr. Grinda is an interesting data point and would make an excellent sociology case study but are there big lessons to be learned from his journey? How many Manhattan residents will read this section of the newspaper? How many will now say “eureka!” and will follow his path? Which successful people doubt that they are living a good life along the path they are currently following? Who is haunted by self doubt and the sense that this life could be even more fulfilling?
Source: http://greeneconomics.blogspot.com/2015/06/shedding-possessions-or-marginal.html
