Social debt is not just a problem for the wealthy. It affects ordinary people too. On the Amtrak train, the quiet car often leads to irritation and stress when people make even the slightest noise. Similarly, when we buy nice things, we become obsessed with maintaining them and competing socially. The pursuit of having the nicest things becomes an unhealthy obsession.
I think there’s an “ideal” net worth for everyone, when money not only stops bringing pleasure but becomes a social liability. And that number is probably lower than most people think.
A subtle problem with money is that assets are easy to measure but liabilities can be hidden. Measuring assets is simple. But how do you measure losing your privacy? Or the nagging doubt that some friends only like you for your money? That’s way harder.
My theory is that the more money people have, the more social debt they tend to be burdened with.