“When it comes to money and happiness, there is a glitch in our psychological code.”[1] He argues that this glitch is driven by our flawed extrapolation of the early-in-life happiness gains from increases in income—that we experience some of the positive impact of money on our well-being as children and young adults and then spend the rest of our lives “[salivating] in anticipation of good feelings when the bell of money rings.” The glitch keeps us on a metaphorical treadmill, always running, never getting anywhere, chasing the early-in-life happiness that money once provided.
