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225 sats \ 2 replies \ @elvismercury 17 Dec \ parent \ on: America is richer than ever. Why is it so unhappy? econ
An issue that I think is foundational is that these things are dynamic. Even w/ a sophisticated mechanism to attribute the wealth from living closely to a bunch of friends who care about you and who you care about -- which is economically illegible but practically about the most important thing there is -- there's still the issue of adaptation, wherein the felt value of this source of wealth dissipates over time. You don't feel it nearly as much when you've had it for a year, vs when you've been starved for it. No seasoning like hunger, etc.
To my mind, this is reason for both optimism and pessimism. Optimism bc most of what ails anyone (or any modestly functioning civilization) is amenable to treatment for zero dollars; pessimism bc the prospect of people introducing these cycles into their lives is negligible.
Put another way, it doesn't matter how "wealthy" we get by the usual way of reckoning such things, nobody will feel better about it, and btc doesn't fix this.
That last part depends on whether this is an inherent feature of modernity or if it’s a fiat induced high time-preference pathology.
The important part is that what is measurable gets optimized and we’re missing the immeasurable losses. I think there’s a growing awareness of this situation though.
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That last part depends on whether this is an inherent feature of modernity or if it’s a fiat induced high time-preference pathology.
I don't even think the culprit is modernity, except insofar as modernity has made vastly largely swathes of humans prosperous, post-scarcity for the "real" scarcities. But given the prevalence of the anomie throughout history -- of the wealthy, and wealthy civilizations, unhappy in similar ways -- I think the data tells a compelling story.
Hopefully I'm wrong, though.
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