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View all comments This is actually a hidden gem. It perfectly describes why the rich cannot tolerate getting any poorer. The human spirit is infinitely able to adjust to ever-higher standards of living, and after only a few months of experiencing them, will think of them as “new defaults”. But it’s only finitely able to adjust to lower standards of living.
You feel worse from losing than you feel good from winning, and also there’s a material floor past where losing more literally means death
