Throughout history and around the world, men and women have always sought status and recognition. But in the modern era, the yardstick is almost always the same: economic success.
More bluntly, money.
The benefits of money and status are obvious: freedom, resources, comfort, time, attention, and deference. A lack of status, on the other hand — even if it is only perceived — can lead to sadness, anxiety, and even depression.
Our capitalist system thrives on the pursuit of status. Entrepreneurs take elaborate risks in the pursuit of great rewards. Consumers buy superfluous products — especially luxury brands — they believe confer prestige. The pursuit of status motivates us to develop our talents, work hard, demonstrate excellence, and achieve worthy goals.
In today’s increasingly affluent society, however, our ideas about what are “essential” constantly change.
For example, consider the percentage of Americans who believed the following items were necessities in 1970:
If these were nonessential to Americans 45 years ago, why do hundreds of millions consider them necessities today?
It’s not just that these things make our lives easier and more comfortable. Many folks would feel embarrassed or ashamed to be without them.
Our sense of happiness is based on comparing ourselves to others. Unfortunately, that is a guaranteed recipe for unhappiness.
The problem with making economic success the foundation of personal happiness is that a) you cannot control the economy and b) most companies eventually fail. Needless to say, this undermines job security and financial well-being.
While life will always be uncertain, there is a simple and effective cure for status anxiety: changing the way you think.
Every time we feel satisfied with what we have, however little that may be, we can count ourselves rich.
Jean-Jacques Rousseau insisted there are two ways to make a man wealthier: Give him more money or curb his desires. Or, as Socrates declared as he passed the expensive goods on sale in the Athens agora, “How many things I can do without!”
As for other people’s opinions, whether you get the recognition you believe you deserve is out of your control. But if you haven’t done anything that deserves contempt or disrespect, what difference does it make what someone else thinks?
An obsessive pursuit of status may not just be a waste of time. It could be a waste of a life.
About the Author: Alex Green is the author of excellent books like, The Secret of Shelter Island: Money and What Matters, and Beyond Wealth, that show you how to lead a “rich” life during trying economic times.