|Richer [higher income] people tend to be happier. Experiments suggest, however, that what matters most is not income per se but income relative to the income of one's peer....Americans compare themselves to other Americans of the same age, resulting in a hedonic treadmill because incomes in the United States rise over most of the adult lifespan...rather than promoting overall happiness, continued income growth in rich countries could promote an ongoing consumption race where individuals consume more and more justto maintain a constant level of happiness.
- Source: Stop Acting Rich: And Start Living Like a Real Millionaire
by Thomas J. Stanley
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