511. Community Episode: Are Recessions Good For You? w/ Joe Saul-Sehy, Christina Gawlik, and Joseph Skillen
Mar 28, 2024
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Financial expert Joe Saul-Sehy, Christina Gawlik, and Joseph Skillen discuss the benefits of recessions, including finding purpose and strength, exploring the impacts of technology on happiness, reflecting on personal growth during the pandemic, and balancing wealth accumulation with fulfillment.
Recessions can lead to increased longevity by promoting resilience and purpose, especially for older adults.
Financial challenges during recessions can drive individuals towards innovative ventures and meaningful accomplishments.
Success and happiness should be defined beyond material wealth, emphasizing purpose and well-being as crucial factors.
Deep dives
Recessions and Longevity
Research suggests that economic downturns can lead to increased longevity, as seen during the Great Recession where mortality rates dropped notably, especially among older adults and those without a college education.
Purpose and Retirement
During recessions, individuals may find a sense of purpose in striving to overcome financial challenges, leading to a stronger drive and greater longevity, contrary to expectations.
Economic Strain and Creativity
Economic downturns can spur creativity and innovation, as individuals facing financial stress may be motivated to explore new ventures or ideas outside conventional career paths, potentially leading to meaningful accomplishments.
Balancing Wealth and Happiness
The discussion questions whether wealth equates to happiness and underscores the importance of finding purpose and contentment beyond material wealth, emphasizing that happiness is not solely dependent on financial success.
Better Growth and Global Impact
The conversation delves into the concept of 'better growth' rather than faster growth, highlighting the need for sustainable economic practices that prioritize well-being over pure economic expansion, suggesting a shift towards more thoughtful and impactful economic growth models.
On this community episode we are joined by Joe Saul-Sehy, Christina Gawlik, and Joseph Skillen. We discuss Aki Ito's recent article "The Upside of Recessions". Could recessions actually be good for us? Listen why this counterintuitive viewpoint actually makes some sense and why recessions help us live longer.