this post was submitted on 10 Nov 2023
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Work Reform

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[–] [email protected] 6 points 1 year ago (1 children)
[–] [email protected] 1 points 1 year ago* (last edited 1 year ago) (1 children)

NO IT'S NOT, THESE ARE TWO DIFFERENT PHENOMINA.

Diminishing returns: My first dollar buys a loaf of bread necessary for my survival, my millionth buys me 0.01% of a sports car.

Hedonic treadmill: Neither my sports car nor loaves of bread seem as wonderous to me after they've become a part of my routine.

[–] [email protected] 2 points 1 year ago

Not to be contrary, but the last line of the summary in the wiki article is:

The hedonic treadmill viewpoint suggests that wealth does not increase the level of happiness

I would infer from that, that increased wealth has increasingly diminishing returns after a certain point.

I did try to follow the link, but Investopedia broke it on their end and I can't seem to find it (aside: wooof, that is a bad layout). Any good sources for me?