"Making Room" for Experiential Choice

Where we live does much to shape our lives. Douglas Clement of the Minneapolis Fed recently highlighted a study which argues how one's choice in location can be a special asset:

...think of location choice as an investment decision. A person without savings who loses his or her job can survive the shock by moving to a less-desirable city, "borrowing" from that location to pay current living expenses. In contrast, someone benefiting from a positive shock - an inheritance, say - might "invest" in a good location and enjoy sustained payoff from its better housing, schools and employment. Either decision involves an intertemporal transfer of consumption - choosing whether to consume now or save for a rainy day.

While monetary aspects of location strategies are important for young adults - particularly anyone with a college degree - experiential considerations are involved as well. However, without a college degree, location strategies are a bit more complex. What restrictions do these individuals currently face, as they seek to "make more room" for positive experiences in their lives through location choice?

Even though it's often argued that money can't really "buy" good experiences; alas, one's financial standing has more bearing on the nature of positive experiences than it initially appears. In many instances, the places we work and live require a level of non discretionary income which leaves little for experiential choices and the well being they make possible. Ultimately, a broader array of experiential options are needed, for anyone whose monetary compensation comes up short for discretionary spending.

Why is experiential choice so important, and what does it involve? Several factors determine our overall lifestyle choice sets. Workplaces can be vital not only when they offer possibilities for intellectual challenge (knowledge use as experiential choice), but also insofar as they make home and automobile ownership more realistic. Home and auto ownership open up possibilities for a whole range of enjoyable activities which go well beyond intellectual endeavour, should this be missing in one's work. For those who lack a reliable full time job with benefits, it's not just a matter of going without sufficient personal space or social mobility. Unfortunately, the experiential possibilities that come with meaningful relationships can be reduced as well. And in many instances, two part time jobs simply can't create the security that can be generated via a single workplace commitment.

It's the experiential options in our lives that provide the greatest chances of achieving happiness. Fortunately, intellectual challenge can be what we make of it regardless of circumstance, but pursuing such endeavour without the added engagement of workplace friends or family, can be quite lonely. While some of life's most meaningful pursuits also take place in solitary nature or the countryside, the city living option is still quite important for a wide range of experiential options, particularly when we're young.

Should one's experiential life choices become limited, it's easy to become too reliant on social media and related forms of entertainment, especially should we face difficulties traveling or visiting friends and family. Also: Even though services such as Uber and Lyft now make it simpler to gain city employment, options such as this likely won't be available for rural areas in the foreseeable future.

A two pronged place based approach is needed - one which brings new forms and means of housing and transportation within reach of those with small incomes. After all, good experiential options shouldn't be limited solely to the realm of well compensated workplaces, where people already have more experiential options than time to exercise them.

In the country, rural areas would benefit from community design which (re)creates walkable options for living and working. Cities and populated regions could grant special zoning permission, for areas of flexible building components/infrastructure to generate space for mutual services and access to city jobs. Importantly, the best way to design such community efforts is through mutual ownership of the endeavour that creates social mobility for those who take part. One unique aspect of this for profit enterprise, is that it can be built through the diverse groups which directly benefit from their mutual commitments to one another.