Economic ostracism via Airbnb
According to the international scientific literature, human happiness does not depend on the level of income, as long as basic human needs such as shelter and food are met. Despite the perception of many that the rich are happier, statistics around the world do not confirm such causation.
There are two main reasons behind this failure to identify any significant impact of income on human happiness. The first relates to the adjustment that takes place as a result of whatever happens to us in life – from winning the lottery to having a serious health problem and ending up in a wheelchair. Research has shown that one year after winning the lottery or one year after an accident, individuals have adjusted to their “pre-shock” life situation and report the same levels of happiness as before.
The second reason relates to the well-known expression “keeping up with the Joneses.” This expression highlights the fact that what is important in life in terms of wealth and material possessions is not what we have in absolute terms but where we are in comparison to others.
That is, what we are constantly trying to do is to have what the Joneses (or the Papadopouloses in our case) have. So, it is our relative position in society and the economy that makes us feel better or worse because we are constantly comparing ourselves to the Joneses. Thus, perpetual greed leads to a nonstop race to want more.
And while we strive and stress for all that more, expending our energy and precious time in this life to acquire more money more wealth, and more possessions, we lose what we hold most precious: our peace and quiet, our leisure time, our friends, our hobbies and anything that truly fills our souls.
And all this at the altar of the supposed happiness that we will feel when we get rich one day. And, of course, most of us take too long to realize that happiness that comes from money, wealth and material possessions is only momentary, and, even worse, we find out when we eventually lose something truly precious, like our health or a loved one.
One of the founders of the concept of happiness was Aristotle. Aristotle referred to eudaimonia and hedonism as two different approaches to human happiness. Hedonism focuses on maximizing pleasure, comfort and enjoyment while minimizing pain and discomfort. Eudaimonia, on the other hand, is about living a meaningful life, personal growth, authenticity and excellence. It is easy to see that the hedonistic approach to happiness is satisfied through the accumulation of wealth, money and material possessions.
However, as scientific research shows, what really makes people happy in the long run is eudaimonia. In this case, people are filled with the feeling of having enough, receive pleasure from giving and helping, reducing material desires and managing pain.
I watch with great wonder the exhausting struggle and agony of many people who, on the altar of this (greedy) ambition, gloriously waste their lives. And I wonder.
In Galaxidi, where I have been living for the last five years, there are no houses available for long-term rent. All unoccupied houses are available for short-term rental (Airbnb) only
Two beliefs offer possible interpretations of this course on which people refuse to learn. Either they really don’t realize that they are moving upward on a descending escalator, or they don’t want to embroil themselves in processes that will confront them with more internal and essential reflections on their existence and purpose in life.
However, so great is the social pressure on this issue and so loud and glowing is the applause of the social circle in front of a big house, an expensive car, shiny jewelry and popular expensive brands of clothing, that we all eventually fall into the trap.
The occasion for this article was the serious problem of the unavailability of houses for rent. In Galaxidi, where I have been living for the last five years, there are no houses available for long-term rent. All unoccupied houses are available for short-term rental (Airbnb) only. So for some of us who happen not to be landlords but need a roof above our heads, there is a really serious problem. Serious!
Because I live in the real world, with a job, child, salary, expenses, taxes etc, I can understand all the reasons why a property owner might prefer to market their property on a short-term rather than long-term lease. It is obviously more profitable, and since the leashes have been tightened so much in recent years, this extra income is a hefty injection into the household budget.
However, there is another category of people: those who own and operate several properties at the same time and make them available for rent. These properties are not necessarily owned by them. But they can rent them out at an increased rate compared to market, and subsequently, through the disposal of these properties in the short-term rental market, earn multiple times more.Thus, both the owner, who lets their property be operated by a professional who manages many properties on Airbnb, and the entrepreneur, who has a higher profit margin, earn more.
Meanwhile, I, John, Mitsos, Nikoletta and several others can’t find a roof to put over our heads because some people need to get a little richer! This is exactly how markets and subsequently societies break down. This is exactly how distortions are created that lead to long-term economic and social deadlocks. Because when I, John, Mitsos, Nikoletta and various others cannot find a house to rent so that two or three others can get a little richer, we will take our little boxes and move somewhere else. Possibly the next town.
And when that happens once, twice, three, five times, then over time (and also on top of the growing problem of low fertility rates), a domino effect of problems is set into motion, such as the school closing because there are no children, the doctor’s office closing because there are fewer permanent residents, shops closing and places becoming deserted.
I don’t know what tourist in a few years will want to visit a place that may be suffering from serious deficiencies. But before I start worrying about the tourist, I would be primarily interested to know why this economic ostracism of the permanent resident is both legitimate and moral.
Marina-Selini Katsaiti is an associate professor and chair at the Agricultural University of Athens’ Department of Regional and Economic Development.
