Gupta: Make sure empathy trumps the economy in 2024

Financial pressures strained our emotional well-being, both at home and in the workplace in 2023. Let’s work on supporting each other emotionally this year.

Published Jan 01, 2024 • Last updated 20 hours ago • 2 minute read

2023 was a tough year, economy-wise. This year, it is more important than ever to foster empathy and compassion in our interactions. Photo by AAmir Qureshi /AFP/Getty Images

I recently had an argument with someone close to me, then saw that our dispute was actually a manifestation of deeper economic anxieties this person was facing because of their uncertain job prospects. Stepping back, I realized how much potential economic uncertainty has to drive interpersonal problems in all areas of our lives.

As we usher in 2024, I am reminded of the resilience and strength that define us as Canadians. Despite the economic challenges of the past year, a prevailing spirit of hope and community binds us together. This very spirit will be our guiding light as we navigate the waters ahead, helping us to rise above the trials that the new year will bring, and emerge stronger.

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In 2023, we all felt the weight of economic stress: small-business owners grappling with rising costs; CEOs facing tough decisions; and families stretching their budgets to make ends meet. These stories have shaped our collective narrative, but they also underscore the resilience that is so characteristic of our nation.

But let us not forget the human side of these economic pressures. The strain on our emotional well-being, both at home and in the workplace, was palpable last year. Going forward, it is critical that we understand how these macroeconomic factors impact our personal lives and relationships.

The stress of meeting basic needs can lead to conflicts with loved ones, competitive behaviour at work, and mental-health issues driven by a sense of scarcity. Recognizing these underlying social and financial stressors is crucial to prevent undue strain on our families and children, and to maintain team morale and cohesion at work.

In such tough economic times, it is more important than ever to foster empathy and compassion in our interactions. When faced with frustration or impatience, choosing understanding and kindness can make a significant difference, especially when conflicts arise. Loved ones and coworkers do not always act rationally when they are hurting, and it is in these moments that our empathy is most needed.

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So let us enter 2024 with a commitment to reset our emotional bank accounts and let go of past setbacks and losses. Healing is not about forgetting; it is about not allowing the past to dominate our future. Growth, self-improvement, seeking help when needed, and developing emotional intelligence are the keys to starting the new year right.

By moving through tough times with grace and self-awareness, we not only preserve our identities and values but also strengthen the fabric of our society. This will not change economic trends, but it will ensure that we remain supportive and connected as a community — both in the home and workplace.

As the new year begins, I am reminded of the dispute I had that got out of control. Had I understood this person’s underlying economic problems, I would have approached the situation very differently. So let’s step into 2024 with open hearts and minds, committed to growth, empathy, and connection — for the benefit of ourselves, our families, our workplaces, and our society. Let us embrace this new beginning with pragmatism, optimism, and the shared goal of making Canada a stronger, more resilient nation.

Arjun Gupta is a JD candidate at the University of Ottawa.