Simplicity is the state or quality of being simple, uncomplicated or uncompound. It is the essence of happiness. Simplicity is basically freedom from dissipation, luxurious & complexity; freedom from material desires and emotional desires. The value of simplicity lies in how we appreciate the small things in life.
The one great quote by Albert Einstein, “Genius is making complex ideas simple, not making simple ideas complex", what I deduced from it is Everything should be made as simple as possible, but not simpler. It is desirable to keep even complex things as simple as they can be, without losing something of the essence of those things, but that some things cannot be reduced to something simpler as they lose something of essential consequences.
Simplicity provide peace and tranquility in one's life. It makes us more open minded & teaches us value of life more accessible. From simplicity grows leniency & sharing.
Atlast, simplicity in life is having satisfaction and happiness over whatever we have regardless of us being rich or poor. Simplicity is functioning true/real own self to live a simple life. It aids understanding, allows us to focus better, increase belief and build confidence. Hence beauty lies in simplicity.