Happiness Lunch with Professor Paul Dolan

Professor Paul Dolan joined VAR Capital for an intimate discussion on the nature of happiness, revealing that true fulfilment lies in balancing pleasure with purpose. His reflections offered a timely call for moderation, acceptance, and emotional resilience in an increasingly volatile world.

The event was hosted on behalf of VAR Capital by the Chairman of VAR Capital’s advisory Board, Sukhpal Singh Ahluwalia.

Overview on Happiness:

• Happiness is not a static achievement but a dynamic balance between pleasure and purpose.
• True fulfilment arises from the ability to navigate between immediate gratification and meaningful engagement.
• Genetic predispositions, environmental factors, and personal agency all interact to shape an individual’s experience of happiness.

Understanding the Nature of Happiness:

While happiness is deeply personal, Professor Dolan highlighted that understanding its foundations requires rigorous empirical study. It is shaped not only by how we feel, but by how we respond to internal traits and external conditions.

• Genetic factors influence emotional temperament, with some individuals naturally predisposed to positivity.

• Happiness cannot be bought, but financial stability contributes by enabling access to health, leisure, and autonomy.

• Environmental context and conscious personal decisions play a pivotal role in long-term happiness outcomes.

• Updated studies show that income continues to raise happiness modestly for those already inclined to feel fulfilled.

• Those who are emotionally disengaged or unhappy tend not to benefit from additional income in the same way.

The Role of Wealth, Expectations, and Social Media:

Beyond income, Professor Dolan discussed how modern cultural and digital forces shape our understanding of success and, in turn, our sense of well-being.

• Today’s younger generations face unprecedented pressure from rising societal expectations, particularly around education and career success, magnified with social media.

• Social media plays a central role in magnifying dissatisfaction by promoting curated, often unattainable versions of success.

• Algorithms amplify exposure to similar content, reinforcing narrow ideals and distorting perceptions of what is “normal.”

• This dynamic fosters a gap between expectation and reality, a key source of modern unhappiness.

Altruism, Transparency, and Cultural Sensitivity:

Professor Dolan highlighted the positive psychological effects of altruism, noting that doing good for others meaningfully contributes to one’s own happiness.

• Acts of kindness and collaboration not only benefit others but reinforce personal fulfilment and a sense of purpose.

• Transparency around altruistic acts can inspire further generosity, creating a ripple effect within communities and networks.

• However, cultural norms, particularly in the UK, often discourage overt displays of charity, viewing them as self-promotional.

• Perhaps the metaphor of “frosted glass”: a balance between discretion and visibility, allowing virtue to be seen without ostentation, is the best way to naviage altruism.

Navigating a Complex World with Compassion:

In addressing the challenge of remaining happy in a world marked by crisis and suffering, Professor Dolan introduced a subtle but vital distinction between compassion and empathy.

• While empathy attempts to mirror another’s suffering, it can lead to emotional exhaustion and overwhelm.

• Compassion, by contrast, offers a more sustainable posture by acknowledging pain while maintaining perspective and action.

• Professor Dolan noted that most individuals, despite global chaos, are absorbed in the routines and relationships of daily life, a reality that still permits joy.

• Social media amplifies exposure to distressing news, often intensifying feelings of helplessness, particularly among younger generations.

• Mindful engagement with the world, grounded in awareness rather than emotional over-identification, is key to maintaining well-being amidst uncertainty.

Faith, Emotional Stability, and the Importance of Acceptance:

Professor Dolan explored how internal frameworks such as faith and emotional regulation contribute to happiness, while reinforcing the essential role of acceptance in achieving lasting personal change.

• There is a notable correlation between religious faith and higher reported happiness, though faith itself is not a direct cause of happiness.

• Faith offers a structured framework for meaning, resilience, and acceptance, critical pillars for emotional well-being.

• Individuals exhibit natural emotional temperaments: some are ‘rough seas’ (more emotionally volatile), others ‘calm waters’ (more emotionally stable).

• A temporary departure from one’s natural emotional state, a ‘vacation from oneself’, can revitalise and re-balance inner well-being.

• Professor Dolan stressed that true change begins with acceptance; without accepting one’s current state, meaningful growth remains elusive.

Conclusion: The Architecture of Balance

In closing, Professor Dolan distilled his philosophy into a powerful and deceptively simple formula: Happiness = Acceptance + Vacation (from oneself).

• His reflections served as a reminder that true happiness is not found in relentless striving or fleeting pleasures, but through balance between pleasure and purpose, ambition and acceptance, emotional intensity and calm.

• In an age increasingly defined by volatility and extremes, the ability to cultivate moderation, resilience, and inner balance stands as one of the most enduring paths to happiness defined by a meaningful and fulfilled life.

Meet Paul Dolan:

Professor Paul Dolan is a leading expert in the science of happiness and human behaviour. As Professor of Behavioural Science at the London School of Economics (LSE), he has spent nearly three decades exploring how we measure well-being and what truly drives fulfilment.

Alongside advising government and private sector leaders, he has brought academic insights to the wider public through his bestselling books Happiness by Design, Happy Ever After, and his new book coming out on May 8th, Beliefism. Known for his engaging and accessible style, Professor Dolan blends academic rigour with wit, helping audiences find greater balance between pleasure and purpose in their lives.

Disclaimer:

This message is provided for information purposes and should not be construed as a solicitation or offer to buy or sell any securities or related financial instruments, nor does the information constitute advice or an expression of our view as to whether a particular financial product is appropriate for you. Please note that we do not provide any tax or legal advice and clients must seek their own tax advice independently.

VAR Capital is an independent financial services firm offering asset management, lending and family office services. It was founded by individuals with extensive experience from Banking, Asset Management and Family Offices. Based in Mayfair, London, VAR Capital Ltd is authorised and regulated by the Financial Conduct Authority (FCA).

Source: VAR Capital

Media Contact: Vikash Gupta, vikash@varcapital.co.uk