i don’t think it’s totally implausible, at least not if we believe that there is such a thing as basic needs, that people are significantly less happy if those aren’t met, and that a certain amount of money (obviously allowing for some variation) allows one to fulfill them. that said, i think it’s less plausible than a logarithmic relationship, but of course i say that having just read this post …
edit: having thought about it a bit more, i can’t really think of a basic need that has a sharp cutoff—e.g. you’re not either well-nourished or starving, but there are tons of points in between, and at any point money can provide marginal improvements—so now i do think it’s pretty implausible after all.
i don’t think it’s totally implausible, at least not if we believe that there is such a thing as basic needs, that people are significantly less happy if those aren’t met, and that a certain amount of money (obviously allowing for some variation) allows one to fulfill them. that said, i think it’s less plausible than a logarithmic relationship, but of course i say that having just read this post …
edit: having thought about it a bit more, i can’t really think of a basic need that has a sharp cutoff—e.g. you’re not either well-nourished or starving, but there are tons of points in between, and at any point money can provide marginal improvements—so now i do think it’s pretty implausible after all.