"Modern World" a world with modern attitudes, key to the development of civilization through scientific approach. While "Rat Race" is struggle between people for wealth or power. To be more specified in easier terms, we all use public transport as its cheap so the demand rises but supply of public services is still same creating a crowded situation. We push each other for obtaining a seat in a bus to avoid discomfort.
Even these two are different concepts but still they sound synonyms as there exists a relationship for passionate people who crave for powers and they are completely hostile about their achievements which further triggers the evolving nature of human being. It sounds great, but the right amount of competition is good. Well, Rat Race is not a healthy competition as desparate people are more at risk to have mental instability. Which is quite observing in the case of Japan were people are more depressed with high rate of suicides and government have to interfere for marital status of citizens as they are so busy in work that they lack personal space. In India, things are moving at this direction, young people are more workholic and deprived from interpersonal relations and it further triggers the issues of mental health due family problems mostly because of work load.
Modern world is getting involved in reckless things, quite dangerous for living organisms and major threats over environment. But the way it is fast pace is really a serious issue over human health for both physical and emotional attributes. If we look at the World, currently we all are are running behind an assumption or a right path that people call for making ourselves successful. Our ultimate happiness dwells in success or its like a reason of our being. For this happiness we rely on products, status, bank balance, etc. The irony behind is that we know we are unhappy but we keep on running and often try to stage happiness by assuming that this work or particular thing in life can help us to achieve happiness. So we keep going behind worldly matters which is followed by everyone. In this quest, we fall in the trap of opportunity cost. We began to assume that the things we enjoy is our asset but it's a liability that further increase our cost. For instance, a credit card or luxurious items create a personality for third party that you are wealthier even you had bought these from loans. This personality developed for third party will expect you differently and thus you began to dive dipper in opportunity cost. In addition of this, you may have earn a real money but still you are not able to find happiness. As per as economic law; the theory of Marginal Utility came, which states after a particular level of consumption you reach at a stage when that particular thing is not enjoyable. This point is attainable for both issues mentioned above as for both you crave for success but higher than your current position. So you continue the quest for possessions a never ending Race.
Our competitive behaviour is not bad if it all about right amount as we have evolved due to this nature. Our zeal for doing more great than others had lead us to modern world and competition is not a humanly thing. Because it is observed with wild beasts as fast organisms is able to survive because it has power to make resources work for it. So we need a healthy environment for competition and the assumption for happiness needed to be changed.

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