>“The sensation of ‘being well-off,’” [...] “is not about fulfilling a childhood dream of buying a sailboat or something; feeling wealthy is about comparison with others in your reference group

When there is a debate about increasing % of taxes further for higher income (often in the name of redistribution, reducing inequalities), I often hear the argument that it will reduce the motivation for the higher income people to keep working and keep contributing to society. I think the argument is wrong: it's a social game, and if the same rules apply to all, they all can keep playing the same game with the same motivation of outdoing their peers.