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#707 - Morgan Housel - 9 Timeless Lessons About Human Psychology

Modern Wisdom

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Happiness Baseline

  • Happiness is the gap between expectations and reality.
  • Technological and economic progress raises the baseline of what's considered normal.
  • Even with significant improvements in living standards, people may not feel happier if their expectations rise proportionally.
  • John D. Rockefeller, despite his immense wealth, lacked basic amenities we take for granted today.
  • Today's average person lives better than Rockefeller, but may not perceive it as such due to higher expectations.
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