I read two final columns from writers on different continents this past week, yet both expressed remarkably similar thoughts. I found it fascinating that both chose to reflect on our lack of appreciation for how well we’re doing economically on a global scale compared to history and yet how disgruntled we are with the status quo.
Paul Krugman, writing for the New York Times, notes that when he began his column at the start of the century, readers were optimistic about the future. Now, there is a pervasive sense of gloom, anger, and resentment. Even billionaires, he observes, seem angry.
In writing for the Rapport, Johan Fourie continues his historical economic research to illustrate the progress made. For example, in South Africa, child mortality rates have improved significantly, declining from 1 in 5 for white children and 1 in 3 for coloured children to 1 in 30.
It’s not up for debate that most places in the world are better off now than at any time in history. Statistics on economic output per person, life expectancy, the incidence of diseases, and global conflicts provide compelling evidence that should convince you.
Yes, despite these facts, we don’t feel better off. Instead, we feel cheated. We hanker back to a better time in history.
We can speculate about the root of this discontent. Paul Krugman puts it down to the erosion of trust in leaders and institutions like governments and banks. While I agree, the issue is more complex. Digital media amplifies our sense of lack when we compare our mundane, everyday existence to the glamour of others’ social media feeds. Influencers and the super-rich set unattainable standards, creating a sense of lack. There’s also just ignorance of the facts and the manipulation of truth by populist leaders who want us to believe that the world is in terrible shape.
Still, these factors don’t negate that we collectively feel that life has become more difficult. Both can be true: life can feel hard and be better than at any other time in history. We have to be vigilant not to let the global gloom overshadow the good in our own lives.
At this time of year, it is good to reflect on the good things. Our brains will not let us forget the bad anyway. So, delve through your memories of the year—pick out the ones that lift your heart.
For me, it is the time of laughter around the dinner table. The weekly hike with my midlife hiking buddies. Hugs from my children. Phone calls from my parents. Long-distance WhatsApp chats with my friends across the country. My trip to Rome. Unpacking in my new home. My art. My writing.
I’m deeply grateful for Foundation Family Wealth and everything it represents for me – a chance to work with purpose, to build something with my colleagues, and to journey with clients. I’m also profoundly thankful for this blog and its readers. Thank you for your encouragement and feedback this year. I am always humbled that you take the time to read my thoughts.
I hope you get a chance to reflect during this season. May you delve into the good memories of 2024.
Ps. I will take an extended break from writing over the festive season.
Ps. I love to hear your comments. If you are not on our mailing list, you can subscribe to receive this blog every week on our website www.foundationsa.com.
Kind regards,
Sunél
//20 December 2024