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This is the adaptation principle at work: People's judgments about their present state are based on whether it is better or worse than the state to which they have become accustomed.9 Adaptation is, in part, just a property of neurons: Nerve cells respond vigorously to new stimuli, but gradually they "habituate," firing less to stimuli that they have become used to.

Aside from the misperception of one's performance, there is a social treadmill effect: You get rich, move to rich neighborhoods, then become poor again. To that add the psychological treadmill effect; you get used to wealth and revert to a set point of satisfaction. This problem of some people never really getting to feel satisfied by wealth (beyond a given point) has been the subject of technical discussions on happiness.

In every permanent situation, where there is no expectation of change, the mind of every man, in a longer or shorter time, returns to its natural and usual state of tranquility. In prosperity, after a certain time, it falls back to that state; in adversity, after a certain time, it rises up to it.12 If this idea is correct, then we are all stuck on what has been called the "hedonic treadmill."13 On an exercise treadmill you can increase the speed all you want, but you stay in the same place. In life, you can work as hard as you want, and accumulate all the riches, fruit trees, and concubines you want, but you can't get ahead. Because you can't change your "natural and usual state of tranquility," the riches you accumulate will just raise your expectations and leave you no better off than you were before. Yet, not realizing the futility of our efforts, we continue to strive, all the while doing things that help us win at the game of life. Always wanting more than we have, we run and run and run, like hamsters on a wheel.

The glory of acquisition starts to dim with use, eventually changing to boredom as the item no longer elicits even a bit of excitement. This is the pattern of everything in our lives. No matter how much we wish for something, over time it becomes a normal part of our lives, and then a tired old item that bores us, even though we did actually get our wish. And we end up being unhappy.