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- Creators: Dean, W.P. Carey School of Business
Individual happiness is not always correlated with societal happiness. Intrinsic happiness usually stems from sources such as authenticity, self-fulfillment, and community involvement. In contrast, extrinsic happiness comes from career success, wealth status, and popularity. The difference in these sources of happiness can create an unrealistic search for happiness in society. Individuals are chasing happiness in ways that are not obtainable or fulfilling for their individual needs. Because of this, there is an excessive amount of materialism and consumerism in society as an attempt to find or replace intrinsic happiness. Thus, I propose that if humans could learn to gather happiness intrinsically, the outcome may be a society that balances maintainable happiness and a more sustainable way of living. This hypothesis is tested by interviewing four individuals about what makes them intrinsically happy versus what they believe society says happiness comes from. Open-ended semi-structured interview questions were created by drawing on happiness literature and personal experience. Participants discussed how a focus on intrinsic happiness could affect society as a whole. The results indicate that humans naturally lean toward human connection and community involvement. Both are values with inherently positive sustainability implications and correspond to a sustainable way of life. The challenge, however, is the societal values placed on extrinsic aspects of happiness and the push away from sustainability.
By working on this thesis, I was able to identify causes that lead to inequality due to how manufacturing and service systems might account for costs, as well as solutions and concepts that can help pave the way for a more egalitarian society. Furthermore, through this study I have also discovered actors, namely benefit corporations, that actively partake in various actions to benefit not only their customers, but society as a whole. The causes, measurements, documents, and principles I looked at were company financial statements whenever available, various socially responsible management literature, accounting principles, research literature on the inequality of cost externalization, etc. These resources established that a proper plan to tackling the unsustainable business and financial practices of many corporate and private entities today involves a consumer-oriented vision that follows the triple bottom line, a mission that closely follow a vision, core company values that emphasize the need to serve society, and a plan to closely and efficiently follow through with said vision. Problems such as over reliance on limited resources and externalizing environmental costs due to intrinsically uncompetitive business models could be potentially mitigated with proper restructuring of business models. The triple bottom line is an accounting framework that incorporates the integral segments of social, environmental, and financial dimensions of performance. Lastly, it is worthwhile to mention that companies which successfully worked under this mantra and plan tend to be sustainable over longer periods of time and be more innovative than competitors, which ultimately lead to higher levels of goodwill and loyalty from their customers.