3 ms·
The point still stands. Beyond some amount the absolute amount of money really stops to matter
by jeltz 3y ago
The point still stands. Beyond some amount the absolute amount of money really stops to matter
- croemer 3y agoNot in the minds of the people competing for the job. They can get a bigger house with more money.
- michalf6 3y agoThe ability to exert power and influence over things you value continues to scale with money. There's more to life than consumption.
- mcguire 3y agoMoney is power. Of course, the people who think that's a super brilliant great idea are those with a lot of money or those who somehow expect to get a lot of money.
- lex-lightning 3y agoI think genuinely most people don’t want to exert power over others, so the value doesn’t increase for most
- JumpCrisscross 3y ago> Beyond some amount the absolute amount of money really stops to matter At national monetary scales, sure, because more spending would be inflationary thereby decreasing one’s spending power. So call it a trillion dollars or so. Not a practically relevant cap.
- mcguire 3y agoAFAICT, the most expensive yacht is the History Supreme, which is only 100ft but is built from, among other things, 10 tons of gold and platinum. $4.8B. Then there's the 155m Streets of Monaco concept (https://archive.curbed.com/2013/7/15/10219720/inside-streets-of-monaco-the-worlds-most-absurd-yacht https://archive.curbed.com/2013/7/15/10219720/inside-streets...) which I would not touch with a 40ft motor lifeboat. $1.1B. Elon Musk famously found a way to spend $44B on Twitter, which pretty impressive.
- fullshark 3y agoOnly if you think the point of money is consumption or saving for future consumption and not dry powder for class mobility (investments / housing / schooling for children / social signaling).
- FredPret 3y agoNo it doesn't - what if you had a trillion dollars. You could spend the money on saving the penguins, or developing a Linux distribution that's just the way you like it, or clean up the ocean, or start a Manhattan project for breakthrough battery tech, or teach kids math in Africa, or convert a large number of people to your religion, or fund the arts, or fund an expedition to Mars, or any number of things. Human needs are infinite. There will always, always be more good and worthwhile things to buy.
- kqr 3y agoAccording to whom? The research I've seen on this confirms Bernoulli's intuition that happiness scales with the logarithm of income. Sure, the logarithm is slowly varying in the limit, but that seems like a very unusual definition of both "beyond some amount" and "absolute amount stops mattering."
- lex-lightning 3y agoThe logarithmic decay could be more about more and more people hitting their satisfaction level, than about what the wealth can purchase. In other words, very few people actually want to be billionaires. Or more simply: most people want to retire.
- xboxnolifes 3y agoAnd that point happens, at minimum, after you have enough money to no longer need to work another day in your life.