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Dangers of Self-Indulgence: Wealth, Time, and the Illusion of Productivity

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In Self-Indulgence, Paul Graham reflects on the risks of losing wealth, emphasizing that most fortunes are lost through poor investments rather than excessive spending. He argues that while spending triggers alarms about self-indulgence, bad investments often go unnoticed. Graham draws a parallel between money and time, noting that the greatest danger in wasting time comes from engaging in fake work rather than leisure. He concludes that modern complexities require new alarms to avoid both financial and temporal pitfalls.