Ummdustry , 7 months ago NO IT’S NOT, THESE ARE TWO DIFFERENT PHENOMINA. Diminishing returns: My first dollar buys a loaf of bread necessary for my survival, my millionth buys me 0.01% of a sports car. Hedonic treadmill: Neither my sports car nor loaves of bread seem as wonderous to me after they’ve become a part of my routine.
NO IT’S NOT, THESE ARE TWO DIFFERENT PHENOMINA.
Diminishing returns: My first dollar buys a loaf of bread necessary for my survival, my millionth buys me 0.01% of a sports car.
Hedonic treadmill: Neither my sports car nor loaves of bread seem as wonderous to me after they’ve become a part of my routine.