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Hedonic Treadmill and the Economy
The hedonic treadmill is when permanent changes to living conditions lead to only temporary increases in happiness. This keeps us always wanting improvements to our lives. We often spend money on the newest Iphones and focus our attention on improving our external circumstances. We ignore the quote:
"What lies before us and what lies behind us are tiny matters compared to what lies within us"
Some people eat chips to quell their boredom. The hedonic treadmill ensures that, despite improvements in income, people are not satisfied. I was surprised by how much the hedonic treadmill dovetails with profit maximization. If they maximized profit, I suspect companies would pay Big Pharma billions not to release drugs that improve the hedonic set point. The antidepressant drugs Big Pharma releases act as mood flatteners, according to https://www.hedweb.com/.