Conclusion

The conjuncture of all this is the cognitive issue of loss aversion; the fear of individual loss far outweighs the joy felt with gain. Therefore as Khanenman states, we have a bias that causes us not to be able to make financial decisions based on any kind of long-term rational thinking; instead, we emotionally react and dismiss or fall into the gamblers trap of chasing a loss when an algorithm would take the initial loss and get out of the game. (Kahneman 2011) The reality is shown in the Golden Period 1950-70s when wealth was evenly more distributed; all gained except for the top 10%, and as we all know, above a certain income (around 2.5 national average) does not increase happiness, focus on wealth causes the need for continual status affirmation, and entitlement issues that isolate one group from another. (Kahneman 2010) 

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