Everyone knows the law of diminish of return from high school economics textbook. How come the writer sounds like they have discover something now. The more money you have, you will need even more money to give you the same happiness. It’s like exercise, you are happy the the first time you swim 50m non-stop, but if you are contented, you will never about to swim 1500m.
My economics professor once said, money is a religion. The monetary system works because people have faith that they can exchange a piece of paper or zeros in their bank account with actual goods. Somehow most people don’t know or choose to forget this fundamental concept in economics.