Jonathan_Graehl comments on A Challenge for LessWrong - Less Wrong

16 Post author: simplicio 29 June 2010 11:47PM

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Comment author: reaver121 01 July 2010 08:25:58AM *  4 points [-]

I'm familiar with some of the obvious arguments at a basic level (entrepreneurship is usually win-win, money can be used to help fund or attract attention for just about any other project or argument you care to have succeed, getting rich should be relatively easy in a world full of both arbitrage opportunities and irrational people), but still don't quite find them convincing

I do find them convincing. Unfortunately, I don't find them motivating. Making a sustained effort to do something usually depends for me on :

  • earning enough money to sustain my lifestyle (I could live on welfare if I really wanted to but I find that ethically wrong).
  • finding it interesting

My lifestyle tends to be rather minimalistic so that even an average to low income is more then enough to sustain it. I also find it a lot easier to just forgo some comfort or gadget instead of working more to pay for it (such wants are for me usually fleeting anyway). Finding something interesting is for the most part out of my control so I can't do much there.

I have to admit however that I'm in a rather comfortable position so that I don't have to really care about money all that much. I live in Europe so medical care is compared to the USA cheap. I'm building my own house now but I'm getting a lot of help from my family both financially & practically. Still, the same reasoning holds.

This is why I found (when I was younger) communism a better idea than capitalism. I had to recognize however that most people don't think my way and that communism is unsustainable. One of the most surprising experiments in found in this regard is the one where someone can choose between :

  • getting a 100 dollar raise while giving anyone else a 200 dollar raise
  • getting a 50 dollar raise while giving anyone else no raise

Assume that prices of goods stay equal in both cases i.e. that fact that everyone else gets a 200 dollar raise in the first option has no influence on the price of goods. When I first read this to my great surprise most people choose option 2 while I found option 1 the blindingly obvious correct choice.

Comment author: Jonathan_Graehl 01 July 2010 06:14:05PM 2 points [-]

If one only cared about material goods, then you're right.

Otherwise, it depends on how much you need to be relatively richer than others in order to attract the kind of social interaction you like. Think of the stereotypical well-dressed man hoping to land a winning bid on a pretty gold digger.