People I (Mostly) Admire cover image

73. Turning Work into Play

People I (Mostly) Admire

NOTE

The diminishing marginal utility of money

Money has a declining marginal utility, which means that the first dollar makes people happy, but the subsequent dollars don't make people as happy as the ones before them./nThis is likely due to the fact that people with a lot of money do the wrong things, which means they're not using their money in the way that made them happy in the past.

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