MICHELLE LU - 011810966
CAFF 321 CHAPTER REVIEW QUESTIONS (1-4)
Chapter 1
1. Why does Daniel Gilbert, author of Stumbling on Happiness, say that experiences might bring more satisfaction than durable goods? Do you agree or disagree?
Although happiness is not easily defined and it really depends on who you ask and what their degree of happiness is in their life, Gilbert the author of Stumbling on Happiness, explains that experiences might bring more satisfaction than that of durable goods. With this he is simply stating the fact that happiness is dependent the things you do in life and not the objects. It is the time that you share with friends and family what makes life meaningful and that creates happiness. All the objects in the world that money can buy is meaningless when you don't have anyone to share it with.
2. Harvard economists Alberto Alesina and Paolo Giuliano say that strong family ties imply more reliance on the family as an economic unit that provides goods and services and less on outside institutions such as those found in the market place and government. Why does household production (doing things together or making things within the home) activity have such an impact on family ties? Can you give an example from your own family?
Not completely sure if I am answering this question correctly but basically the way I see things, I must say I agree with both economists who say that strong family ties imply more reliance on the family as an economic unit and etc. Household production has a huge impact on family ties because I believe that it is very important when families work together and produce things that become of value to their household and their family. For example my family and I have worked together as a team to remodel our house, and to save money in doing that in many ways which in the end also helped increase the value of our