Under the regime of scarcity what we can do is optimize our experience of welfare while under the regime of abundance what we can do is optimize our condition of well-being.
The richest man can have the greatest luxuries but fail to enjoy them because he believes his condition is insecure and his attention is focused on merely getting more, and so he feels too stressed to allow for the experience of those material objects (which would ostensibly enhance his welfare) to signify anything about his condition and so his well-being would remain unchanged.
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