Ecclesiastes 7:1-4

1 A good name is better than precious ointment, and the day of death than the day of one’s birth;

² Better to go to the house of mourning than to go to the house of feasting, for that is the end of all men; and the living will take it to heart.

³ Sorrow is better than laughter, for by a sad countenance the heart is made better.

⁴ The heart of the wise is in the house of mourning, but the heart of fools is in the house of mirth.

name (v.1) = In the Hebrew culture, a name was not just a label, but was thought of as an expression of one’s underlying nature. — Grace, page 1175.

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ointment (v.1) — A very fragrant oil such as nard which was used as a perfume. In Hebrew there is a play on words here — “name” is sem and “oil” is semen. … The idea is that the aroma of good perfume leaves a lasting good impression on the senses, and so does meeting someone of good reputation. They are also similar in that both are costly to attain. — Grace, page 1175.

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The question with which the preceding chapter has closed, “Who knowing what is good for man in this life …?” is now answered. The Preacher commences an expansive list of those tings that are good for man and, if pursued, will ultimately lead into the way of true profit. A good reputation is of great value than precious ointment … (an expensive, perfumed oil that was used on joyful occasions). The contemplation of the day of death is more fruitful than contemplating the day of one’s birth. Whereas the latter is of limited profit, the former brings sober and salutary thoughts to the heart of a man. … Sorrow is better than laughter, for it fosters the growth of a sober frame of mind, which tends to keep on in the way of profit. The heart of the fool rejoices only in mirth and eschews the valuable lessons that can only be learned in the place of mourning. — KJV Commentary, page 746.

I don’t think Solomon was recommending depression here. But he was pointing out that we often learn important lessons in life when we are sad or sorrowing and rarely when we are happy and content. Those who only pursue fun and games and avoid anything that makes them unhappy will remain fools.