When we have gained total control of all the matter down to every single particle within, say, our galaxy, and found out exactly what kinds of combinations we need to put particles together in to maximize the amount of happiness produced per particle used (and per spacetime unit), then what if we find ourselves faced with the choice between 1) maximizing happiness short term but not getting control over more of the matter in the universe at the highest possible rate (in other words, not expanding maximally fast in the universe), and 2) maximizing said expansion rate at the cost of short term happiness maximation. What if this trade-off problem persists forever?
We might find ourselves in the situation where we, time after time, can either use all of our matter for maximizing the pace at which we take control over more and more matter, creating no short term happiness at all, or creating any non-zero amount of happiness short term at the expense of our ability to expand our ability to get us much more happiness in the future instead. We might find that, hey, if we postpone being happy for one year, we can be ten times as happy next year as we would otherwise be able to be, and that's clearly better. And next year, we are again in the same situation: postponing being happy one more year again seems rational. Next year, same thing. And so on.
Suppose that kind of development would never end, unless we ended it by "cashing in" (choosing short term happiness before maximum development). Then when should we "cash in"? After how many years? Any finite number of years seems too small, since you could always add one extra year to further improve the expected long term happiness gain. On the other hand, the answer "in infinitely many years from now" is not appealing either, as an infinity of years never passes, by definition, meaning we would never choose to be happy. So, when would you "cash in" and choose to be happy? After how many years?
The maximum happy area for a happy rectangle is when both its happy sides are of equal happy length, forming a happy square.
(A shorter gloss of Fun Theory is "31 Laws of Fun", which summarizes the advice of Fun Theory to would-be Eutopian authors and futurists.)
Fun Theory is the field of knowledge that deals in questions such as "How much fun is there in the universe?", "Will we ever run out of fun?", "Are we having fun yet?" and "Could we be having more fun?"
Many critics (including George Orwell) have commented on the inability of authors to imagine Utopias where anyone would actually want to live. If no one can imagine a Future where anyone would want to live, that may drain off motivation to work on the project. The prospect of endless boredom is routinely fielded by conservatives as a knockdown argument against research on lifespan extension, against cryonics, against all transhumanism, and occasionally against the entire Enlightenment ideal of a better future.
Fun Theory is also the fully general reply to religious theodicy (attempts to justify why God permits evil). Our present world has flaws even from the standpoint of such eudaimonic considerations as freedom, personal responsibility, and self-reliance. Fun Theory tries to describe the dimensions along which a benevolently designed world can and should be optimized, and our present world is clearly not the result of such optimization. Fun Theory also highlights the flaws of any particular religion's perfect afterlife - you wouldn't want to go to their Heaven.
Finally, going into the details of Fun Theory helps you see that eudaimonia is complicated - that there are many properties which contribute to a life worth living. Which helps you appreciate just how worthless a galaxy would end up looking (with very high probability) if the galaxy was optimized by something with a utility function rolled up at random. This is part of the Complexity of Value Thesis and supplies motivation to create AIs with precisely chosen goal systems (Friendly AI).
Fun Theory is built on top of the naturalistic metaethics summarized in Joy in the Merely Good; as such, its arguments ground in "On reflection, don't you think this is what you would actually want for yourself and others?"
Posts in the Fun Theory sequence (reorganized by topic, not necessarily in the original chronological order):