The idea is that you will not enjoy a 400 hp car if I have a 600 hp car.
On Mon, Mar 26, 2007 at 10:59:19AM -0600, Bill Lear wrote: > On Monday, March 26, 2007 at 09:26:31 (-0700) Michael Perelman writes: > >I haven't read the book in a long time. But the recent literature on > >happiness does suggest that increasing GDP does not increase > >self-assessments of happiness once the GDP reaches about $15,000. > > > >The big externality is that your luxury consumption makes other people > >envious, and thus less happy. > > This seems strange: how can most people not enjoy a 400 horsepower > car? A superlative bottle of red Bordeaux or Burgundy? A weekend > at a fancy resort? A new kitchen? > > > Bill -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com
