A Biblical word study in ESV. May God grant me the endurance to see this study carried out.
James 1:9-11 — “Let the lowly brother boast in his exaltation, and the rich in his humiliation, because like a flower of the grass[c] he will pass away. For the sun rises with its scorching heat and withers the grass; its flower falls, and its beauty perishes. So also will the rich man fade away in the midst of his pursuits.”
MacArthur commentary for James 1:9-11: boast. This word refers to pride in a privilege or possession; it is the joy of legitimate pride. Although having nothing in this world, the poor believer can rejoice in his spiritual standing before God by grace and the hope which that brings (cf. Rom. 8:17-18; 1 Peter 1:4). his humiliation. Refers to the rich believer’s being brought low by trials. Such experiences help him rejoice and realize that genuine happiness and contentment depend on the true riches of God’s grace, not earthly wealth.