posted on December 02, 2019 12:00
The “Happiness Index (Gross National Index of SA)”, which was launched in April 2019 by Prof Talita Greyling (University of Johannesburg), Dr Stephanie Rossouw (Auckland University of Technology) and Afstereo, to measure the happiness level of South Africans, showed that the happiness levels of South Africans stayed untouched by macroeconomic events, such as the looming misfortune of SAA, which will likely affect their daily lives, but reveal short term happiness about microeconomic events, such as Black Friday.
Following the happiness index over the past two weeks, it was interesting to see that although SAA is in a “danger zone”, with restructuring and many people likely losing their jobs, and this setting the stage for other public enterprises, such as ESKOM, most probably predicting a bleak future for the South African economy, it had very little effect on their happiness levels. The happiness levels were close to previous daily averages.
On the other hand, Black Friday brought an increase in happiness levels on Thursday, as expectations of bargains were eagerly awaited. The happiness level on Thursday on average was 6.45, somewhat higher than the average of 6.34, for other Thursdays. Interestingly, happiness levels decreased below the average levels on Friday, Saturday and Sunday, as customers were disappointed, because their expectations were not met.
Happiness levels pre- and post “Black Friday”
This reveals that South Africans have not fully realised the major consequences of events, such as the “dangers” in which SAA finds itself, likely also being repeated at ESKOM, furthermore reading the signals of personal hardship, as many big companies are restructuring, factories are closing plants and mines are disinvesting in South Africa, to relocate in other countries. Whereas, economic issues at a micro level, such as Black Friday, actually do affect their happiness levels, but only briefly, as the happiness attained from the purchase of products is short lived.