MLB Salary Comparison Mindset

Morgan Housel shares a story about perspective and social comparison using MLB salaries as an example.

"The minimum wage in MLB is like $500,000 a year - a shitload of money by any definition. But I guarantee you there's not a single minimum wage professional baseball player who thinks they're doing well because they're comparing themselves to their teammates who are making $10 million a year.

There's no end to that comparison. From an evolutionary perspective, what matters is not how much success you have - it matters that you have more success than the other person. Because in a competition for resources, that's all that matters. Doesn't matter if you're worth a billion dollars if somebody else is worth a billion and one - they have more resources than you and from an evolutionary perspective they're gonna win and you're gonna lose."