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Alicorn comments on My main problem with utilitarianism - Less Wrong
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We only occupy a level of happiness/contentment above our individual, natural, set points as long as we are regularly satisfying previously unsatisfied preferences. When that stream of satisfactions stops, we gradually revert to that set point.
OK, so the point is happiness depends on the time derivative of preference satisfaction rather than on preference satisfaction itself?
If I knew what "time derivative" meant, I might agree with you.
Amount of change per unit of time, basically.
Then yes, that's exactly it.