Sure, practically, a Gam Zu l'Tovah state of mind will make me happier, but it seems so dishonest. The evidence suggests "losing my hand sucks" but my mind screams "ultimately, my life is better without a hand." And my mind screams this without any evidence or first principle upon which to rely.** Gam Zu l'Tovah is, ultimately, a philosophy of "lie to yourself".
What about the Amor Fati (roughly, "love of one's fate")? Here's a conception I can swallow. Like Gam Zu l'Tovah, it demands that you look back on life events with assent and affirmation. However, while lover of one's fate gains all the practical increases in happiness, he does without having to bear any of the truth-problems created by Gam Zu l'Tovah.
For there is no claim that one's fate is ACTUALLY the best or most pleasurable, only an imperative to love it. We are very comfortable with the notion of loving something imperfect (one's child, one's spouse, one's self, etc.) and this just asks us to do the same.
(Additionally, there is no claim to love the fate of others. Most principles which lead one to believe in Gam Zu l'Tovah imply the same for life-events which impact others. A perfectly benevolent Divine force makes not only my experience wonderful, but also that of my friends. So, when my neighbor loses his hand, I must respond (perhaps not to his face, but internally) with "it's all for the best." Amor Fati, however, only applies to one's own fate.)
I'd like to believe that the authors of the Gam Zu l'Tovah aphorism really just meant "Amor Fati" but were just saying it in slightly different words. Amor Fati is more honest and philosophically sound . . . .
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**Unless you first assume that there is some Divine force that is actively moving every detail of your life to insure that the very best happens to you. Then you do have a principle upon which to rely. However: A. its always somewhat problematic to assume a Divine force B. additionally, it is problematic to assume that this Divine force considers you worthy of such radical kindness. Certainly seems to against the notion of reward and punishment based on virtue!