4min chapter

The Wisdom & Action Podcast cover image

The Good Society #1: Nate Hagens

The Wisdom & Action Podcast

CHAPTER

The Importance of Loss Aversion

The pain of losing something is more negatively intense than the pleasure or the positive feeling of the same equivalent gain. People who were averse to losses ended up making it through some bottleneck events. In a society that maximizes consumption in our marketing and our media, when you try to tell people that they're going to have to consume less, we'll have less. That's not a marketable prospect. You can sell different, and you can sell better, but you can't sell less. And this gets into how we redefine our, our, our success and our well-being and our consumption and capital even.

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