Podcasts about Eldar Shafir

Neel Doshi reveals how to build and sustain high performing cultures through total motivation. — YOU'LL LEARN — 1) The six motives at the root of culture 2) How to use metrics the wrong and right way 3) The questions that kill motivation Subscribe or visit AwesomeAtYourJob.com/ep1013 for clickable versions of the links below. — ABOUT NEEL — Neel is the co-founder of Vega Factor and co-author of bestselling book, Primed to Perform: How to Build the Highest Performing Cultures Through the Science of Total Motivation. Previously, Neel was a Partner at McKinsey & Company, CTO and founding member of an award-winning tech startup, and employee of several mega-institutions. He studied engineering at MIT and received his MBA from Wharton. In his spare time, he's an avid yet mediocre woodworker and photographer.• Book: Primed to Perform: How to Build the Highest Performing Cultures Through the Science of Total Motivation• Website: Factor.ai— RESOURCES MENTIONED IN THE SHOW — • Study: “Poverty impedes cognitive function” by Anandi Mani, Sendhil Mullainathan, Eldar Shafir, and Jiaying Zhao• Book: Pattern Breakers: Why Some Start-Ups Change the Future by Mike Maples and Peter Ziebelman— THANK YOU, SPONSORS! —• Lingoda. Visit try.lingoda.com/Awesome and save up to 20% off your sign up fee! Plus, get an extra $25 off with the code AWESOME • LinkedIn Jobs. Post your job for free at LinkedIn.com/beawesome• Jenni Kayne. Use the code AWESOME15 to get 15% off your order!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Revisiting Steve's 2021 conversation with the economist and MacArthur “genius” about how to make memories stickier, why change is undervalued, and how to find something new to say on the subject of scarcity. SOURCE:Sendhil Mullainathan, university professor of computation and behavioral science at the University of Chicago Booth School of Business. RESOURCES:"Fictional Money, Real Costs: Impacts of Financial Salience on Disadvantaged Students," by Claire Duquennois (American Economic Review, 2022)."Do Financial Concerns Make Workers Less Productive?" by Supreet Kaur, Sendhil Mullainathan, Suanna Oh, and Frank Schilbach (NBER Working Paper, 2022).Subtract: The Untapped Science of Less, by Leidy Klotz (2021)."Heads or Tails: The Impact of a Coin Toss on Major Life Decisions and Subsequent Happiness," by Steve Levitt (NBER Working Paper, 2016).Scarcity: Why Having Too Little Means So Much, by Sendhil Mullainathan and Eldar Shafir (2013)."The End of History Illusion," by Jordi Quoidbach, Daniel T. Gilbert, and Timothy D. Wilson (Science, 2013). EXTRAS:"Leidy Klotz on Why the Best Solutions Involve Less — Not More," by People I (Mostly) Admire (2021)."Sendhil Mullainathan Explains How to Generate an Idea a Minute," by People I (Mostly) Admire (2021).

Daniel Kahneman left his mark on academia (and the real world) in countless ways. A group of his friends and colleagues recently gathered in Chicago to reflect on this legacy — and we were there, with microphones. SOURCES:Maya Bar-Hillel, professor emeritus of psychology at the Hebrew University of Jerusalem.Shane Frederick, professor of marketing at the Yale School of Management.Thomas Gilovich, professor of psychology at Cornell University.Matt Killingsworth, senior fellow at the Wharton School of the University of Pennsylvania.Barbara Mellers, professor of psychology at the University of Pennsylvania.Eldar Shafir, director of the Kahneman-Treisman Center for Behavioral Science & Public Policy at Princeton University.Richard Thaler, professor of behavioral science and economics at the University of Chicago. RESOURCES:"Experienced Well-Being Rises With Income, Even Above $75,000 Per Year," by Matthew A. Killingsworth (PNAS, 2021)."The False Allure of Fast Lures," by Yigal Attali and Maya Bar-Hillel (Judgment and Decision Making, 2020)."Learning Psychology From Riddles: The Case of Stumpers," by Maya Bar-Hillel and Tom Noah (Judgment and Decision Making, 2018).Thinking, Fast and Slow, by Daniel Kahneman (2011)."High Income Improves Evaluation of Life but Not Emotional Well-Being," by Daniel Kahneman and Angus Deaton (PNAS, 2010)."Varieties of Regret: A Debate and Partial Resolution," by Thomas Gilovich, Victoria Husted Medvec, and Daniel Kahneman (Psychological Review, 1998)."Some Counterfactual Determinants of Satisfaction and Regret," by Thomas Gilovich and Victoria Husted Medvec (What Might Have Been: The Social Psychology of Counterfactual Thinking, 1995). EXTRAS:"Remembering Daniel Kahneman," by People I (Mostly) Admire (2024)."Academic Fraud," series by Freakonomics Radio (2021)."Here's Why All Your Projects Are Always Late — and What to Do About It," by Freakonomics Radio (2018)."The Men Who Started a Thinking Revolution," by Freakonomics Radio (2017).

“O trabalho se expande de modo a preencher o tempo disponível para sua conclusão.” Essa frase é de autoria atribuída ao historiador e escritor britânico Cyril Northcote Parkinson criador da teoria que foi publicada pela primeira vez em 1955 em um artigo da revista The Economist, que ficou conhecida no mundo todo como Lei de Parkinson, extremamente válida até os dias de hoje. Já ouviu falar? Nesse episódio contamos também com a participação especial do saudoso Antônio Abujamra e sua magistral interpretação do poema de Mário Quintana sobre o tempo. Jornadas para a Alma do Instituto Trem da Vida: https://www.sympla.com.br/produtor/tremdavida Livro recomendado: A Lei de Parkinson de autoria de Cyril Northcote Parkinson Escassez de autoria de por Eldar Shafir e Sendhil Mullainathan Filme recomendado: Quanto tempo o tempo tem Participação especial musical de Tukum com a música: Tempo, que está presente em nossa Playlist no Spotify chamada “Trilha Barulhinho Bom” – ouça, siga, delicie-se e compartilhe sem moderação para aquecer mais corações: https://open.spotify.com/playlist/0ECjtl1bjx8mnWiDAKChnt?si=bK2ttO8KQPeZPsBNBT6xJg Que tal esse Barulhinho Bom? Obrigada por permitir tocar seu coração! Se sentir que esse conteúdo pode contribuir para a vida de alguém, por favor, compartilhe sem moderação! Contamos com você nessa missão! Assine ou siga o Podcast Barulhinho Bom em seu agregador de áudio preferido e receba os novos episódios tão logo sejam publicados (Apple Podcasts, Google Podcasts, Spotify, Deezer, SoundCloud, Amazon Music, Audible entre outros). Se ficou com vontade de saber mais e participar de nossas jornadas para a alma no Trem da Vida clique aqui ou entre em contato com a gente: https://tremdavida.com.br ........................................................................................ Ficou com vontade de entrar em contato com a gente? Site e jornadas para a alma do Trem da Vida: www.tremdavida.com.br Jornadas para alma do Trem da Vida: https://www.sympla.com.br/produtor/tremdavida E-mail: podcastbarulhinhobom@gmail.com Todos os contatos e conteúdos: https://linktr.ee/tremdavida Instagram Trem da Vida: https://instagram.com/tremdavidaoficial Podcast Barulhinho Bom: https://soundcloud.com/barulhinhobom WhatsApp / Telegram: +55 (48) 99984.1014 Lista de transmissão VIP via WhatsApp: basta solicitar sua inclusão enviando uma mensagem para o número anterior e adicioná-lo em sua agenda de contatos. Grupo público no Telegram do Barulhinho Bom: https://t.me/barulhinhobom Grupo público no Telegram do Trem da Vida: https://t.me/tremdavida Canal no YouTube com mais conteúdos (@tremdavidaoficial): https://www.youtube.com/channel/UCkB1TvYNjuXwilqUkmFPccg Playlist musical do Podcast no Spotify chamada “Trilha Barulhinho Bom” – segue o link, siga, compartilhe e delicie-se sem moderação com as músicas utilizadas nos episódios: https://open.spotify.com/playlist/0ECjtl1bjx8mnWiDAKChnt?si=bK2ttO8KQPeZPsBNBT6xJg Produção, narração e edição do Podcast: Lidia Picinin (https://instagram.com/lidia.picinin) Criação e edição das inspiradoras capinhas de cada episódio: Pat Malinski (https://instagram.com/pat_malinski) .......................................................................................... Conheça também o trabalho incrível dos artistas de nossa música tema “Barulhinho”: Canal YouTube dos músicos Renato Motha e Patricia Lobato: https://www.youtube.com/user/mcom20 Instagram: https://instagram.com/renatomothaepatriciobato Royalty free music by http://www.epidemicsound.com/ ......................................................................................... Um Podcast criado para deixar um Barulhinho Bom reverberando em seu coração em seus momentos de pausa! .........................................................................................

In this episode of The Brainy Business Podcast, Melina Palmer digs into the psychology of time pressure and its effects on decision-making. She explains how time pressure creates a sense of scarcity and triggers loss aversion in the brain, leading to impulsive choices, especially during holiday shopping. Melina shares strategies to combat this, like setting a budget and creating a gift list to resist impulse buying. She also delves into how businesses can use time pressure to drive sales but emphasizes the need to test different approaches.  Melina also touches on the impact of time pressure on creativity and productivity, highlighting the importance of clear communication to reduce misunderstandings and time pressure. Her advice is helpful for anyone looking to make informed decisions and resist impulse buying during holiday shopping. Plus, her insights on leveraging time pressure for business are equally valuable. So, if you want to understand the psychology of time pressure and how to navigate it, this episode is definitely worth a listen! In this episode: Discover the psychology of time pressure to understand its impact on decision-making. Explore the influence of time pressure on consumer behavior and decision-making processes. Learn effective strategies to resist impulse buying and make informed purchasing decisions. Uncover how to leverage time pressure in marketing to drive consumer engagement and action. Find ways to reduce time pressure for increased productivity and better decision-making. Show Notes: 00:00:00 - Introduction This episode introduces the topic of time pressure and its impact on consumer behavior and decision-making. Melina shares her personal experience of feeling time pressure while buying concert tickets. 00:03:35 - The Complexity of Decision-Making The subconscious brain makes the majority of our decisions due to its faster processing speed. However, considering every facet of a decision would be overwhelming. Time pressure can lead to less effective decision-making and reduce creativity. 00:07:41 - Time Pressure and Consumer Behavior Time pressure during the holidays can influence consumer behavior. Limited quantities, daily deals, and shopping cart clocks create a sense of urgency. Under time pressure, people are more likely to make impulsive purchases and choose familiar, expensive options. 00:09:52 - Shifting Decision-Making Under Time Pressure Time pressure can reverse how we evaluate choices. With plenty of time, we tend to be risk-averse and focus on the risks of making a choice. However, under time pressure, we become loss-averse and fear missing out (FOMO), leading to impulsive buying behavior. 00:10:43 - Tips for Managing Time Pressure To manage time pressure during holiday shopping, create a gift list with spending limits. Plan ahead and have a list of stores to visit or browse online. Having a plan helps resist impulsive purchases and stay within budget. 00:15:52 - Importance of Promotions and Offers Promotions and offers are beneficial for businesses as they help consumers make decisions. Time pressure can be incorporated through discounts or limited-time offers, creating a sense of urgency. Countdowns and limited quantities also drive action. 00:18:15 - Effect of Time Pressure on Consumer Behavior Time pressure impacts decision-making by shifting individuals from being risk averse to loss averse. The perception of limited time changes behavior and motivates action. People are more likely to act quickly when faced with the possibility of missing out on an opportunity. 00:20:25 - Black Friday Deals and Year-End Offers Small businesses should consider if participating in Black Friday or year-end offers is necessary or beneficial. While big retailers are expected to have such deals, small businesses might get lost in the clutter. It's important to be thoughtful and not feel pressured to offer discounts that may result in operating at a loss. 00:22:53 - Impact of Time Pressure on Decision-Making Time pressure causes individuals to focus on extremes and make decisions based on worst-case and best-case scenarios. This may lead to less creativity and accuracy in decision-making. Working with more time allows for better planning and higher-quality outcomes. 00:26:41 - Overcoming Mindset Blocks and Alleviating Time Pressure Constantly being under time pressure can hinder productivity and quality of work. Overcoming mindset blocks and planning effectively can alleviate time pressure and improve creativity and decision-making.  00:31:02 - Evaluating Time Pressure Taking time to evaluate the impact of time pressure and asking key questions can help make confident decisions and use time pressure to your advantage. 00:31:53 - The Effects of Time Pressure Time pressure can hinder creativity, openness to change, and solid work in businesses. Clear communication and reducing unnecessary tasks can help alleviate time pressure. 00:33:02 - Misunderstood Emails Misunderstood emails contribute to wasted time and decreased productivity. Improving email clarity and simplicity can help reduce time pressure. 00:33:39 - Tips to Reduce Time Pressure Implementing strategies like clearer communication, simpler answers, and reducing unnecessary tasks can save significant time for employees. 00:34:46 - Conclusion Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Two Weeks Notice, by Amy Porterfield What Your Customer Wants and Can't Tell You, by Melina Palmer What Your Employees Need and Can't Tell You, by Melina Palmer The Power of Scarcity, by Mindy Weinstein Scarcity, by Sendhil Mullainathan and Eldar Shafir  Top Recommended Next Episode: What Your Employees Need and Can't Tell You launch (ep 225)  Already Heard That One? Try These:  The Overwhelmed Brain and Its Impact on Decision Making (ep 358) Behavioral Economics Foundations: Loss Aversion (ep 316) Behavioral Economics Foundations: Framing (ep 296) How To Set Up Your Own Experiments (ep 63) How to Set, Achieve & Exceed Brainy Goals (ep 70) Behavioral Economics Foundations: Nudges and Choice Architecture (ep 35) Overview of Personal Biases (ep 45) Behavioral Economics Foundations: Scarcity (ep 270) What is Value? (ep 234) Behavioral Economics Foundations: Herding (ep 264) Mindy Weinstein Interview (ep 271) What Your Customer Wants and Can't Tell You (ep 147) The Truth About Pricing (ep 356) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Judgment and Decision Making Under Time Pressure Decision Making Under Time Pressure: A Model for Information Systems Research This Is Your Brain ‘On Sale' Decisions under Time Pressure: How Time Constraint Affects Risky Decision Making Searching for a Better Deal: on the Influence of Group Decision Making, Time Pressure and Gender in a Search Experiment The Effects of Time Pressure and Completeness of Information on Decision Making

Earth shattering news fam: the Perfect Moment IS A REAL THING. It's really about the present becuase other than that, you're waste time "training to train," or preparing to start. Just Start. Figure life out as it was intended - as it unfolds before you in the time gap called RIGHT NOW. Let's breakdown these 8 concepts that prevent you from moving on your now goals.   The "Perfect" Moment Concept Procrastination and Its Consequences: Evidence: Psychological studies, including research by Piers Steel, highlight the negative impact of procrastination on goal achievement. Waiting for the 'perfect' moment often leads to unnecessary delays and missed opportunities, hindering overall success. The Zeigarnik Effect: Evidence: The Zeigarnik Effect, studied by psychologist Bluma Zeigarnik, suggests that incomplete tasks tend to occupy more mental space than completed ones. Waiting for the 'perfect' moment creates an ongoing mental load, contributing to stress and anxiety. Action Bias and Decision-Making: Evidence: Behavioral economics research, such as the work of Amos Tversky and Eldar Shafir, indicates that individuals often prefer taking action over inaction. Waiting for the 'perfect' moment can lead to decision paralysis, hindering the benefits associated with proactive behavior. The Progress Principle: Evidence: Teresa Amabile's Progress Principle suggests that small wins and daily progress contribute significantly to motivation and well-being. Waiting for perfection overlooks the value of continuous progress, impacting overall satisfaction and goal attainment. Neuroscience of Procrastination: Evidence: Neuroscientific studies, like those by Timothy Pychyl, reveal that procrastination involves a struggle between the brain's limbic system (associated with emotions) and the prefrontal cortex (responsible for decision-making). Waiting for the 'perfect' moment engages this internal conflict, leading to delays. Learning Through Imperfection: Evidence: Carol Dweck's research on fixed and growth mindsets emphasizes the importance of viewing challenges as opportunities for growth. Waiting for perfection reflects a fixed mindset, while embracing imperfection aligns with a growth mindset, fostering resilience and adaptability. Decision Regret and Perfection: Evidence: Studies on decision regret, such as those by Daniel Kahneman, highlight that individuals often regret inaction more than imperfect actions. Waiting for perfection can lead to prolonged inaction, resulting in greater potential for regret. Implementation Intentions and Goal Achievement: Evidence: Research on implementation intentions by Peter Gollwitzer suggests that specifying when and where a behavior will occur increases the likelihood of goal attainment. Waiting for the 'perfect' moment neglects the power of intentional planning and execution.   Procrastination Impact: Research by psychologist Piers Steel suggests that procrastination affects approximately 20% of the population chronically and up to 70-95% at some point in their lives. Waiting for the 'perfect' moment contributes to procrastination, impacting a significant portion of individuals. Decision Regret: Studies on decision regret, as conducted by psychologists like Daniel Kahneman, indicate that people tend to regret inaction more than action. Waiting for the 'perfect' moment may lead to greater decision regret, emphasizing the importance of taking action even if it's imperfect. Implementation Intentions: Research by Peter Gollwitzer on implementation intentions shows that setting specific plans for goal implementation increases the likelihood of goal attainment by about 50%. Waiting for the 'perfect' moment may decrease the effectiveness of implementation intentions, potentially hindering goal achievement.

Should you become an artist or an accountant? Did Sylvia Plath have to be depressed to write The Bell Jar? And what can Napoleon Dynamite teach us about the creative life? RESOURCES:"The Science of Why You Have Great Ideas in the Shower," by Stacey Colino (National Geographic, 2022)."So, You Think You're Not Creative?" by Duncan Wardle (Harvard Business Review, 2021)."The Correlation Between Arts and Crafts and a Nobel Prize," by Rosie Cima (Priceonomics, 2015)."Report: State of the American Workplace," by Gallup (2014)."Poverty Impedes Cognitive Function," by Anandi Mani, Sendhil Mullainathan, Eldar Shafir, and Jiaying Zhao (Science, 2013)."Forks in the Road: The Many Paths of Arts Alumni," by the Strategic National Arts Alumni Project (2011)."A Meta-Analysis of 25 Years of Mood-Creativity Research: Hedonic Tone, Activation, or Regulatory Focus?" by Matthijs Baas, Carsten K. W. De Dreu, and Bernard A. Nijstad (Psychological Bulletin, 2008)."The Relationship Between Creativity and Mood Disorders," by Nancy C. Andreasen (Dialogues in Clinical Neuroscience, 2008)."The Broaden-and-Build Theory of Positive Emotions," by Barbara Fredrickson (Philosophical Transactions of the Royal Society B, 2004)."Happiness and Creativity: Going With the Flow," by Mihaly Csikszentmihalyi (The Futurist, 1997).EXTRAS:"Why Are Rich Countries So Unhappy?" by No Stupid Questions (2022)."Do You Really Need a Muse to Be Creative?" by No Stupid Questions (2021)."Does All Creativity Come From Pain?" by No Stupid Questions (2020)."How To Be Creative," series by Freakonomics Radio (2018-2019)."How to Be Happy," by Freakonomics Radio (2018).Napoleon Dynamite, film by Jared Hess (2004).The Bell Jar, by Sylvia Plath (1963).Connections, game by The New York Times. 

Chapter 1 What is Scarcity about"Scarcity: Why Having Too Little Means So Much" is a book written by Sendhil Mullainathan and Eldar Shafir. It explores the concept of scarcity and its impact on individuals' thoughts, behaviors, and overall well-being. The authors argue that scarcity, whether it is related to time, money, or other resources, creates a cognitive load that impairs decision-making and leads to a perpetuation of poverty and disadvantage. The book delves into various aspects of scarcity, including its effects on attention, focus, and cognitive bandwidth. It also examines how scarcity affects individuals across different domains of life, such as education, health, and personal finances. The authors provide numerous real-life examples and research findings to illustrate the profound and often unexpected consequences of living with limited resources. Through their analysis, Mullainathan and Shafir highlight the importance of understanding the psychology of scarcity and offer insights into how policies and interventions can be designed to mitigate its negative effects. By shedding light on the complexities of scarcity, the book encourages readers to reconsider their perceptions of poverty and consider new strategies for addressing its underlying causes. Overall, "Scarcity: Why Having Too Little Means So Much" offers a thought-provoking exploration of the psychological, social, and economic implications of scarcity. It provides valuable insights into the ways in which scarcity shapes our lives and presents opportunities for creating positive change.Chapter 2 Is Scarcity A Good Book"Scarcity: Why Having Too Little Means So Much" by Sendhil Mullainathan and Eldar Shafir is generally well-regarded and has received positive reviews. The book explores the concept of scarcity and its impact on various aspects of our lives, such as cognitive bandwidth, decision-making, and poverty. It delves into how scarcity affects our ability to focus, plan for the future, and make rational choices. By examining scarcity through psychological and economic lenses, the authors provide insights into its consequences and potential solutions. If you're interested in understanding the effects of scarcity and gaining a deeper understanding of its implications, "Scarcity" may be worth considering. However, reading reviews, summaries, or excerpts can help you decide if it aligns with your specific interests and expectations.Chapter 3 Scarcity ReviewThis article delves into the concept of scarcity and its profound effects on various aspects of our lives, drawing inspiration from the book titled [Book Title]. Through an exploration of scarcity's implications on economics, psychology, decision-making, and resource allocation, we uncover the complexities and challenges associated with limited resources. By understanding the principles behind scarcity, readers can gain valuable insights into how it shapes our behavior, influences markets, and offers opportunities for innovative solutions.Chapter 4 Author of Scarcity The book "Scarcity: Why Having Too Little Means So Much" is co-authored by Sendhil Mullainathan and Eldar Shafir. It was first published in 2013. Sendhil Mullainathan is an economist and professor of Computation and Behavioral Science at the University of Chicago Booth School of Business. He has made significant contributions to the field of behavioral economics and has received numerous awards for his work,...

The Right Question Institute (RQI), works to build a more just and equitable democracy by strengthening people's ability to ask questions and participate in decisions that affect them. As RQI puts it, “When people of all ages learn to ask the right questions, it leads to feeling a new sense of agency, confidence & power.” Naomi Campbell directs RQI's Legal Empowerment program, leading RQI's efforts to promote the adoption of the Right Question Strategy in legal practice settings serving low-income communities. The work is aimed at offering a simple way to integrate capacity-building into practice at the micro-level, as part of a systemic change strategy at the macro-level. That sounded to me like a serious curiosity practice in service of community transformation and I wanted to know more. Learn more about about The Right Question Institute: https://rightquestion.org Read Jamie Jirout's research on children's questions and problem solving: https://www.tandfonline.com/doi/full/10.1080/15248372.2020.1832492 Take a look at this excellent coverage from The Guardian of work by Sendhil Mullainathan and Eldar Shafir on scarcity. Their work is not focused on curiosity specifically, but it certainly resonates! https://www.theguardian.com/books/2013/aug/23/scarcity-sendhil-mullainathan-eldar-shafir Our theme music is by Sean Balick. “Faster Faster Brighter" by Ray Catcher, via Blue Dot Sessions.

Learn how scarcity of anything - money, food or social connections - affects our daily lives and leads us astray. Scarcity reduces both intelligence and control. Having too little preoccupies and taxes the mind, making life much harder. "Even smiling and being pleasant is hard when your mind is taxed. The employee snaps at rude customers ... The parent snaps at the child ... The server rings up the wrong item.” Find out about the latest cutting edge behavioral science and how we can all manage scarcity for better satisfaction and success with Princeton behavioral scientist Eldar Shafir. 

Global Policy Watch #1: The Many Transitions In China Global issues and their implications for India— RSJIn a few editions in the past, we have alluded to structural challenges in the Chinese economy and the window of opportunity that it presents India. I thought it would be useful to take a more comprehensive view of this. China reported a GDP growth of 0.4 per cent in the quarter that ended in June 2022. China's National Bureau of Statistics (NBS) isn’t known for its allegiance to truth. It is safe to assume the real GDP would have shrunk in the quarter. The daft ‘zero Covid’ policy led to total lockdowns in major cities during the quarter. The government crackdown on the real estate sector has meant that investment in the sector fell sharply. These contributed to the slowdown. Two other data points are interesting to note. The unemployment rate among the youth aged between 16-24 was at an all-time high of about 20 per cent. Also, retail sales continued to be weak at about 2.7 per cent, much below the 5 per cent forecast. Domestic consumption, the great desire of Chinese policymakers, remained sluggish. The spokesperson for the NBS put up a brave face while spinning these numbers as short-term bumps on the road. He raised the possibility of global stagflation and its negative impact on China to possibly justify weak numbers in the future. But is this slowdown just a blip in the impressive rise of China in the past three decades? I’m not sure. There are three transitions underway in China right now. It is difficult for nations to pull off any one of these in normal times. To attempt three simultaneously is ambitious. It is most likely to fail. Anyway, back to these transitions.The first transition started a few years back. This was forced on it because economics doesn’t bow to the party's diktats. China is finding it difficult to transition from a manufacturing-heavy, investment-led economic model to a consumption-driven one. This couldn’t be avoided. There would always be a limit to the world’s capacity to absorb China’s imports. Also, as China grew richer, it knew its low-cost edge in manufacturing would wither away. So after a few years of structural overinvestment in building capacity - the bridges to nowhere, the ghost cities, empty airports and other excesses - it had to pivot to a consumption-driven economy. It did try to delay the inevitable transition by aiming to export this overcapacity through its belt and road initiative. But after the initial hoopla, most countries have come to see it as what it is. A debt trap. So, this transition was necessary to move away from growth predicated on size and scale of investment to a more sustainable model of higher quality. But this is proving to be difficult. The history of unproductive investments has led to a debt build-up in the system (the debt to GDP ratio in China is over 300 per cent) and a drag on productivity that will continue for a long time. The state-owned enterprises (SOEs) that led this investment-driven growth are in a debt trap, and many continue to stay afloat by evergreening their loans. New productive investments have suffered because of this. People aren’t sure of their future, so instead of consumption, there’s an increase in domestic savings. Also, the pandemic and the recent lockdowns haven’t helped consumption growth. This is going to be a long, painful road.The second transition has been brought upon it because of its confidence in creating a ‘patterned’ society based on a premeditated design of the society. The prime example of ignoring spontaneous order was its plan to control the population through a one-child policy. China is now past the peak of its demographic dividend. The Labour force in China peaked in 2015 at around 800 million. It has now shrunk to 783 million, almost what it was in 2010. In the next 15 years, this is projected to go down to about 650 million. The stupid notion of the population as a liability has meant a rapidly shrinking and ageing workforce. The government has now reversed the one-child policy with a two-child policy without learning that such top-down interventions worsen things. Other similar ideas like patterned migration from villages to specific cities, controlling information flow for its citizens and taking some lofty top-down emission targets that have contributed to a serious energy crisis right now will also turn out the same way. The fault isn’t in their stars but in their ideology.  The final transition is the more perplexing one. This was articulated in a speech by Xi Jinping on August 17, 2021, where he introduced the notion of ‘common prosperity.’ This marked the most cogent articulation of Xi’s shift towards greater ideological rigidity. The days of economic growth based on ideological compromises were coming to an end. As Xi mentioned, ‘common prosperity is the essential requirement of socialism and an important feature of Chinese-style modernization’ and China ‘must resolutely prevent polarization, promote common wealth, and achieve social harmony and stability.’ The crackdown on the consumer tech sector (virtually destroying Jac Ma’s empire) and the ‘three red lines’ drawn for the real estate sector, that has disproportionate weight on its economy, should be viewed in this backdrop. It is unclear whether this is a real commitment to ideology or a way to consolidate his position as dictator-for-life by appealing to the masses. But Xi has doubled down on this, as seen by his remarks at the World Economic Forum:"We will first make the pie bigger and then divide it properly through reasonable institutional arrangements. As a rising tide lifts all boats, everyone will get a fair share from development, and development gains will benefit all our people in a more substantial and equitable way,"In my (very broad) view, Xi has concluded that China might have peaked in economic growth. You start talking about redistribution and ‘dividing it properly’ when you know the pie won’t grow at the same rate as it was earlier. Importantly, I also suspect this is the reason why Xi is acting like a bully in the neighbourhood. If you know you have hit the peak of your geopolitical and geoeconomic leverage, you will be foolish to let the moment pass without maximising your gains.Some might argue furnishing other economic data that this ‘peaking’ theory isn’t true. China is still a global manufacturing engine. Its trade surplus has ballooned in the past year suggesting the world is hungrier for its goods. And so on. There’s this insightful column by Michael Pettis in FT that I will quote, which puts in perspective the record trade surpluses that China has been notching up in recent months while making these three transitions together. Pettis writes:Contrary to what many assume, the country’s burgeoning trade surplus is not a symptom of manufacturing prowess, nor is it evidence of a culture of thrift. It is instead a consequence of the great difficulty China has had in rebalancing its domestic economy and reining in its soaring debt. This is because the very conditions that explain stagnant domestic consumption also explain the rapid growth in Chinese exports relative to imports.Beijing has known the solution to this problem for years. In order to control soaring debt and the non-productive investment it funds, it had to rebalance the distribution of income by enough that growth would be driven mainly by rising consumption, as is the case in most other economies. But this requires a politically-difficult restructuring of the economy in which a larger share of total income — as much as 10-15 percentage points of GDP — is transferred from local governments to Chinese households.This is why the trade surplus matters. In recent years, Beijing has tried to slow the growth in debt by reducing non-productive investment in property and infrastructure. This year, as we saw with Evergrande, Beijing came down hard on the property sector.If a rising share of China’s total income had been going to ordinary households, the resulting reduction in investment by property developers could have been balanced by a rise in consumption. But that’s not what’s happened. In the past two years, partly as a consequence of the Covid pandemic, growth in wages has actually lagged behind growth in GDP. The share Chinese workers have received of what they produce has declined rather than increased, and with it so has the share they are able to consume.Rising exports are usually a good thing, but for countries like China, rising trade surpluses are not. In this case they are symptoms of deep and persistent imbalances in the domestic distribution of income. Until the country is able to reverse these imbalances, something which has proven politically very difficult, these large surpluses are just the obverse of attempts by Beijing to control debt, and so they will persist.For India, all of this is a golden opportunity. China will remain busy with these transitions that it has wrought upon itself. The jury is still out on whether it will have a soft landing on them. Global businesses that started seeking more resilient and cost-effective alternatives to China during COVID-19, are now convinced that they must employ a ‘China + 1’ model to safeguard their long-term interests. There are only that many economies that have the labour pool, capital and a business environment that can take advantage of this shift away from China, however gradual. To me, it might be faster than what we all anticipate. And it will pass India by if it doesn’t stay alert to its possibilities.There is a high likelihood of a golden decade ahead for MSMEs in India if it plays its cards right. A long overdue factor market reforms (possible at the state level), kickstarting a government capex cycle that will instil confidence in the private sector to follow suit, not overdoing aatmanirbhar Bharat beyond the rhetoric and remaining an open and liberal democracy that convinces others that it will have sufficient checks and balances to not lose its way. These are the basic block and tackle moves to capitalise on the opportunity. Because the only lesson to learn from a possible China misstep is that overdetermined leadership and top-down economic thinking eventually fail.Course Advertisement: The Sept 2022 intake of Takshashila’s Graduate Certificate in Public Policy programme ends soon! Visit this link to apply.India Policy Watch #1: A Potent CocktailInsights on burning policy issues in India— Pranay KotasthaneThe ongoing political saga in Delhi over a new (now suspended) excise policy is a heady cocktail for policy analysts. The cocktail’s components include a tussle over alcohol licenses, Maximum Retail Price (MRP), privatisation, regulation, allegations of corruption, rent-seeking, and political contestation.The political motivations behind the current actions are quite clear. But it might be useful to look at the under-discussed policy aspects of the debate. Useful, because it’s not the last time we have seen a stand-off on alcohol policy.The underlying motivation for the Delhi Excise Policy 2021-22 is to increase government revenue. Although we know that the best way to do that is lower the tax rate and broaden the base, India’s poor economic performance over the last decade has made it politically risky to bring additional people under the tax net. Hence, states are opting for the easier—and counterproductive—option instead: raise tax rates and increase non-tax revenue. With the GST taking away the power to raise tax rates on most items unilaterally, state governments are exploring other options. One lucrative option is liquor excise. The Indian State heavily regulates the production, sale, and consumption of alcohol. Streamlining the licensing policies for the production and sale of alcohol can generate non-tax revenue, while higher overboard consumption can result in an increase in tax revenue (excise duty). One reform, two revenue handles. This is why the Aam Aadmi Party (AAP) governments in Delhi and Punjab have set their eyes on this sector. Moreover, raising the fees on government-provided private goods doesn’t fit its existing political persona. To be fair, the Delhi Excise Policy 2021-22 is fairly progressive. It states that the policy's objectives are to augment the state excise duty revenue, simplify liquor pricing, prevent duty evasion, and transform the liquor trade commensurate with Delhi’s position as a city of global importance. To achieve these objectives, the policy aims to award new licenses for alcohol sale, dividing the city into 32 zones, with a fixed number of shops allowed per zone. It aims to end government-run booze shops, distributing those licenses to private players instead. To foster competition, it allows shops to offer discounts below the Maximum Retail Price (MRP), permits shops to stay open till 3 am, and authorises bars to serve alcohol in licensed open spaces. A report in the Business Standard captured the view of a craft beer brand as follows:“The new excise policy is facing teething issues like any other but we find the policy very good since there is now a lot more opportunity to showcase our brand. Earlier, stores were dingy with no proper brand display, but now the stores have a mandated minimum floor area and are women-friendly. This helps with visibility of our brand.” There were quite a few initial hiccups. Some dealers started giving deep discounts to capture the market. That led the government to change the no-MRP policy to a “discount only up to 25% of MRP” policy. After that, retailers started offering “buy one bottle, get another free”. And hence, big dealers could attract more customers, while the smaller ones were finding it difficult to compete. Some licenses didn’t attract any buyers at all. These seem to be transient-state shocks. The steady-state promised to be much better. Alas.Reforming a tightly regulated policy area in which powerful rent-seekers have flourished for decades is not easy. The old status quo has powerful defenders. Like many other reforms, the benefits are widely dispersed while the costs are concentrated. And so, many existing licensees have ganged up on the government. We can be sure that some of these licensees also have political connections, which they have used to oppose the policy. There is also the additional issue specific to alcohol — any policy that is seen to liberalise its sale becomes an easy target for conservative moralisers. Further, the Delhi government made a mistake by pausing the policy implementation amidst the criticism.Then came the political pushback. Despite the government’s revenue increasing by 27 per cent after the policy was put in place, some notional revenue loss of the “2G spectrum allocation” vintage has surfaced. There are also charges of favouritism and corruption in the allocation of new licenses, an issue so sensational that it requires the combined might of the Central Bureau of Investigation (CBI) and the Enforcement Directorate. (Sarcasm is intended.) Many state governments must be eying this Delhi experiment with excise policy reform. Moreover, this case illustrates the difficulty in reforming sub-optimal licensing arrangements. As for the Delhi government, are they reaping what they sowed in the name of anti-corruption?Global Policy Watch #2: Xi Jinping’s Thoughts Global issues and their implications for India— RSJTalking of China (and I’m intruding into Pranay’s area of expertise), I came across this wonderful blog, globalinequality by Branko Milanovic. In his latest post, he writes about what he learnt from reading a translated version of the book, ' Anecdotes and Sayings of Xi Jinping’. Milanovic writes:The undisputable emphasis in the “Chinese” part of the book is on the matters of governance. By giving numerous examples from Chinese history of rulers and their aides who cared about people’s welfare, lived modestly (“One should be the first when taking care of state affairs, the last when taking care of personal affairs”), strove to improve themselves morally and educationally, Xi proposes a theory of governance that is based on virtue of rulers and results achieved, not procedure. While Western theories emphasize the procedural aspect (how is one selected to be the ruler, is it by a well-established democratic process or not), Xi’s concern is with the results. The tacit premise is not to discuss how one is selected to rule….The success is defined in terms of improvement in the well-being and happiness of people whom they govern.…In all cases of a good rule, there is the emphasis on individual characteristics of rulers. What is required, they (the editors) write, is “morality inside and virtue outside”; what is sought is the rule of virtue, and by virtue.  But how to bring about such a rule? Obviously, by having moral rulers. Hence--the reader begins to realize--Xi’s ideological campaign: if Confucian-cum-Communist  ideology is disregarded and everything is simply esteemed in terms of money and economic success, there cannot be a moral and virtuous rule.The key question, unanswered in the book, then becomes: is it possible to achieve an educational and moral “rejuvenation” under the current “normal” conditions of capitalism where money-making is held by the majority of the population to be the highest objective revealing also one’s individual worth?Xi is fighting against the spirit of the times, and while his struggle may be driven by a genuine desire to create a morally superior China, the odds of succeeding in this endeavor are, I am afraid, not particularly high. This is, to put it mildly, a brilliant summary of the ideological battle Xi has picked up and his odds of winning it. I tend to agree with its conclusion.   India Policy Watch #2: Value Addition, Not Import SubstitutionInsights on burning policy issues in India— Pranay Kotasthane“Import Substitution” is still in vogue. One would have thought that the unsuccessful pursuit of this goal since independence would’ve discredited it. That doesn’t seem to be the case.Every few weeks, we come across policies targeting import substitution, implicitly if not explicitly. Just a few days back came the rumour that the government plans to ban Chinese phones priced under Rs 12,000 in order to give a leg up to domestic champions. Thankfully, unnamed sources in the government have denied this story for now. Even so, import tariff hikes and industrial policies continue to chase the illusory target of import substitution. Some policies for display fabs and drones explicitly mention import substitution as the target. Of late, this idea has morphed into targets for maximising value addition per unit of exports. Now, readers of this newsletter know what we think of this idea. In edition #161, we had warned that Atmanirbhar Bharat is approaching a wrong turn. We have also cautioned against the proliferation of Production Linked Incentives (PLIs) beyond a few critical sectors. I will make the case against import substitution in this edition using another example. Look at the chart below, which shows the import profile of a country for the year 2020. This country’s largest import by value is Integrated Circuits (chips) at 18.8%. The total import bill is $259 billion. Can you guess the country? If you need a hint, here’s one: as exports rise, imports also rise. The world’s top two exporters are China and the US. And the world’s top two importers are also the US and China.The answer is neither the US nor China. India can be ruled out because we know that our biggest import is crude oil. Here’s another hint. Look at this country’s export profile for the same year. Its biggest export is again integrated circuits, at 36.9% out of a total exported value of $374 billion. Do you have an answer now? The right answer might surprise you. This is the typical year-wise trade profile of a country that is acclaimed as the world’s semiconductor superpower: Taiwan! We forget that despite its unmatched prowess in contracted chip manufacturing, Taiwan is not even close to being self-sufficient. Some Taiwanese companies import chips, do value addition through packaging and testing, and then export the final commodity. A portion of the imported chips goes into the machines that are used to manufacture chips by the famed Taiwanese chip foundries. The fundamental message is that imports are critical to exports, even in sophisticated economies. PLI scheme began with the aim of promoting India’s exports. But my sense is that import substitution has displaced exports as the primary goal. How else does one explain the simultaneous increase in import tariffs and a phased manufacturing programme (PMP) that aims to increase tariffs on imported components? Atmanirbhar Bharat needs to return to its goal of creating competitive manufacturing capabilities in India by allowing companies to start, grow, and close with considerably less bureaucratic friction. Shielding domestic component makers from international competition on the one hand, and subsidising end-equipment manufacturers on the other will end up helping neither. Equipment manufacturers will merely make expensive, poor-quality products. Some others will use the production subsidies to import components at higher prices, with no net benefit to them or the consumers. As RSJ writes in the first section, this decade is India’s to lose. Imports aren’t evil. Target value maximisation, not import substitution. Counterproductive policies targeting import substitution won’t help. HomeWorkReading and listening recommendations on public policy matters[Article] Why the MRP should be abolished. A 2015 article by Anupam Manur remains relevant. [Paper] PIIE has a good paper with a framework to analyse the world’s dependence on China for strategic minerals.[Book] Scarcity: Why Having Too Little Means So Much by Sendhil Mullainathan and Eldar Shafir is a useful read. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com

This week’s episode is a throwback to 2015, when Daniel Kaufman, professor of philosophy at Missouri State University, editor of the online magazine the Electric Agora, and (at that time) a mainstay on bloggingheads.tv and meaningoflife.tv, invited me onto his show Sophia. I stumbled across this video again last month, and I think it remains an illuminating discussion that addresses some fundamental questions about economics and the social sciences. We begin by discussing the “science” part of the social sciences. I explain that we economists tend not to philosophize about our discipline as much as other social scientists. But many major economic thinkers (think Keynes, Marx, and others) elaborate concepts that do ask fundamental questions about the nature of economics. To call a discipline a “science” implies that its findings are testable and replicable, that its insights are able to predict future conditions from present conditions. Does economics do that? I argue that it does. Of course, since much economic data is drawn from real-world behavior rather than controlled experiments, it can be difficult to isolate variables in a way that would satisfy, say, a physicist. This is because markets exist within particular cultures and under particular social arrangements that are not themselves purely economic in nature. And cultural values are going to affect, at least to some extent, how people behave within markets. The idea that people will try to maximize utility in a rational way is important to economics, but of course we know that humans often behave in ways that seem irrational. How does economics incorporate irrationality into its methodology? And finally, Dan and I were speaking at a time when the (still ongoing) replication crisis was all over the news. Is replication as seemingly dire a problem in economics as it is in psychology? Dan’s training in philosophy helps him to ask some really deep questions here, and I think you can tell I relished the opportunity to answer them. Love to know what you think about this “classic” episode. This post is free and available to the public. To receive early access to TGS episodes, an ad-free podcast feed, Q&As, and other exclusive content and benefits, click below.5:44 How scientific are the social sciences? 11:20 Glenn defends the reliability of economic predictions 29:47 The strengths and weaknesses of “natural experiments” 36:48 How much does culture affect economic behavior? 50:06 New insights from behavioral economics 58:12 Dan: We trust the social sciences too muchLinks and ReadingsDan’s website, the Electric AgoraThe Electric Agora on YouTubeSendhil Mullainathan and Eldar Shafir’a book, Scarcity: The New Science of Having Less and How It Defines Our Lives This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit glennloury.substack.com/subscribe

نگاهی به کمبودهای فردی و اجتماعیخلاصه کتاب کمبودScarcity: Why Having Too Little Means So Muchنویسنده: الدار سفیر، سندهیل مولای ناتان | Eldar Shafir, Sendhil Mullainathanناشر: ققنوس | ترجمه: حسین علیجانی رنانیگوینده و متن: مهدی بهمنیتدوین: رضا بهمنیلینک‌ های پادکست: yun.ir/podlinksحمایت مالی: yun.ir/hamibashاسپانسر کتاب جیبی شوید: yun.ir/sponsor

Listen above to an interview I did today with Bernard Hickey from the excellent The Kākā Substack. It really is rather excellent and I can highly recommend you take a look if you haven’t already. Today’s post is the latest in a series of deeper dives I’ll make into topics that come up in my curated weekly Noise Reduction newsletter, and / or public interest topics and other good stuff. I couldn’t do this work without the support of my paid subscribers. Thank you. If you’re not a paid subscriber, please consider becoming one. Financial insecurity tightly constrains how we experience the world. It also limits the trajectories of life that may be available to us. This is not about personal responsibility and having the resourcefulness or energy to ‘choose’ to do something about your situation. Many of these ‘choices’ are not available for us to make - not because we don’t have money at the moment, but because our entire relationship with money and its inter-relationship with how we meet our most fundamental needs have become warped. Financial precarity means this is not a level playing fieldIn modern society, money is very much tied up in our sense of self-worth. I’m not talking about the amount of money you need to buy a flash car, or an iPhone. I’m talking about the basics. Not just feeding, clothing and housing ourselves and our loved ones, but also not sticking out and being socially identified as impoverished. Not being that kid with the gaping holes in their uniform, or shoes that are leaky or don’t fit. Or perhaps not having shoes at all. A life of dignity, not unending shame. And according to a report by the Child Poverty Action Group in 2017, over 1 in 4 children in New Zealand were living in relative income poverty. It’s unlikely things have got much better, especially in these inflationary times. We often think that mental health issues cause poverty. But this simplifies and misrepresents the relationship in all kinds of ways. The link between poverty and children’s mental health is well recognised in a range of international research. This relationship not only affects childhood experience, but also extends out into adulthood too. Not only does impoverishment cause mental health issues, it also means people who are financially insecure just don’t have the bandwidth available, the luxury of being able to think about wide-ranging life issues and pleasurable pursuits in ways that people who are financially stable are able to do.Scarcity ‘consumes your mental bandwidth’ …It crashes your IQ by 13-points - that the equivalent to trying to think after being forced to stay up all night without sleep. That’s how powerful scarcity is. Imagine that, day in, day out. Financial insecurity corrodes your adaptive capacityThink about it like this: when you have financial security, when you have money to deal with short-term stresses that need cash to solve them, you have a reserve of adaptive capacity that helps to smooth out the ups-and-downs of life. Sure, they may throw you off kilter for a while, and while money won’t solve everything, it can go a long way towards solving your problem. Other stresses that pop up during this time will be unpleasant, but are manageable. People without that cash, without that financial security are going to not only feel that short-term stress a lot more because they know they don’t have the financial means to deal with them, but it then cascades to how they experience further short-term stresses: much more acute, and far more disturbing. Constant financial insecurity can also change how we process informationHave a comfortable buffer of cash means that you’re less likely to see the world as a threat all the time. Stresses come and stresses go, but being financially stable enables you not only to think strategically and creatively but also not to ruminate and obsess about how to get yourself out of a tricky situation. Money helps you to move on and think differently. However, tight financial constraints and  / or a history of finding it difficult to make ends meet means that we can be a perpetual state of apprehension, seeing threat everywhere. Food prices, overcrowded houses causing family strife, and living in houses that are hard to heat. Parents are working multiple jobs and are preoccupied with navigating their way through a tough world and not being able to spend enough time with their kids, even though they desperately want to. “A person in poverty might be at the high part of the performance curve when it comes to a specific task and, in fact, we show that they do well on the problem at hand. But they don’t have leftover bandwidth to devote to other tasks. The poor are often highly effective at focusing on and dealing with pressing problems. It’s the other tasks where they perform poorly.”“The fallout of neglecting other areas of life may loom larger for a person just scraping by... Late fees tacked on to a forgotten rent payment, a job lost because of poor time-management — these make a tight money situation worse. And as people get poorer, they tend to make difficult and often costly decisions that further perpetuate their hardship” - Eldar Shafir, Princeton’s William Stewart Tod Professor of Psychology and Public AffairsThe luxury of bandwidthThis is not a delusion: the world really is a harsher place when we are financially insecure. We have fewer choices available, and our minds are fixed on solving the problem in the here-and-now. This is how the brain works. Creative, playful, sensitive and strategic thinking are luxuries our brains afford us when the threat has passed. If we are in a constant state of threat-management, we seldom experience these brain states. We are just focused on managing the latest in a long line of seemingly never-ending stresses. We can become both aggressive in trying to fight the latest threat, yet also feel helpless in the face of overwhelming odds. Here is the plausible link to not only limited choices and seemingly ‘bad decisions’ as they have been framed, but also to how these states can be passed on from one generation to another. Growing up in financial insecurity seriously impoverishes the time you get to spend in creative or strategic states that are playful or can focus on the long-term. You grow up in an environment of trying to manage the here-and-how, and how threatening this can be. So we learn to solve, or most likely, try to live with, these problems, and the social stigma and impoverishment that comes with them. You can’t take part in a ‘normal’ life in a society like others all around you do. Or we get left behind by friends who carry on doing what ‘normal’ people do. And we become more isolated, more alone, and we feel more stress.This is the impoverishment funnel This is not a ‘choice’. It’s survival. It’s existing, not living.As a society, we can decide on whether we want these inequalities, these distortions, to remain. If we accept that financial insecurity is a key factor in what leads people down the impoverishment funnel, then what should we do? Shouldn’t we be able to live a life where we can access not only the bare essentials but also what enables us to live a public life with dignity? Lack of income is a fundamental problem that needs to be fixed in a just society. A parallel approach might also be to remove the income requirement to access key services, such as making public transport and access to key social, health and cultural amenities free. The situation is critical. As a society, are we prepared to get out of threat-management mode and lift our head beyond the three-year parliamentary cycle of short-term fixes? Can we think strategically and creatively for the long-term? Because unless deal with the inability of people to meet their basic needs through adequate income and services, we are dooming them to ‘choices’ they have no control over, and wilfully impoverishing generations to leading diminished lives, and stripping them of their dignity. It is that stark. Will we choose to intervene?We have the financial bandwidth to choose a national poverty reduction programme to improve lives and break inter-generational cycles of poverty, improve the social determinants of wellbeing and break the shackles of financial insecurity. Imagine the pain it would diminish and the creative and strategic thinking it could unleash. As far as policy programmes go, this is a no-brainer. Thank you for reading Noise Reduction by Sarb Johal. This post is public so feel free to share it. Get full access to Noise Reduction by Sarb Johal at noisereduction.substack.com/subscribe

Hace casi dos años empezó la pandemia y esto ha causado que el estrés financiero aumente considerablemente debido a las crisis económicas que se han presentado alrededor del mundo, ya que muchas personas perdieron el trabajo, tuvieron que cerrar sus empresas o negocios y se vieron fuertemente afectados al no saber cómo sobrellevar la situación. Por esta razón, en Fintelhub buscamos que encuentres tu bienestar de vida y financiero y que si padeces de estrés por situaciones económicas, este desaparezca al poner tus finanzas en orden. En este episodio de Despierta Tus Finanzas Podcast, conversamos acerca del estrés financiero, el bienestar financiero, por qué es necesario el colchón de tranquilidad, por qué el estrés financiero nos hace menos inteligentes, qué sucedió cuando nos replanteamos el trabajo presencial, qué es "la gran renuncia o resignación" y cómo tomar el locus de control en tu vida. Recomendaciones: 1. Estudio: Stress in America 2021 2. Programa: Despierta Tus Finanzas

Why budgets fail and what you should do about it with Stacked: Your Super-Serious Guide to Modern Money Management authors, Emily Guy Birken and Joe Saul-Sehy. We discuss budgets, goal planning, making budget fun, getting your spouse on board and so much more! Get their book Stacked: Your Super-Serious Guide to Modern Money Management by Emily Guy Birken and Joe Saul-Sehy (aff link) https://amzn.to/3oPTZZk Book Recommendations in this episode: Happy Money by Ken Hoda (aff link) https://amzn.to/3EVqw5M Scarcity: Why Having Too Little Means So Much by Sendhil Mullainathan and Eldar Shafir (aff link) https://amzn.to/3dQbHpe Stacked: Your Super-Serious Guide to Modern Money Management (aff link) https://amzn.to/3oSAf7s Special Guests: Emily Guy Birken and Joe Saul-Sehy.

On episode 2, we explore the definitions of scarcity, the difference between scarcity and scarcity mindset, features of scarcity thinking, and an expansive view of both "resources" and "wants". This episode references the book Scarcity by Sendhil Mullainathan and Eldar Shafir. The practices to integrate this week: 1. Resource Awareness PracticeYou can do this either as a journal/writing practice or as a mindfulness walk. Set a timer for 5 minutes and name every resource you see or can think of,  based on our expansive view of resources as physical, mental and emotional. If you get stuck, think of a specific want you have that feels hard to fulfill, and start naming every resource you have access to that might help you fulfill that want. 2. Want Tolerance PracticeThere are two parts to this one: Spend this week noticing every time your "wanting" is actually a form of resource. Perhaps it gives you pleasure, joy, motivation, guidance, or clarity. In the second part, notice when your unfulfilled wants (which we could also describe as scarcities) are feeling unpleasant or uncomfortable. Rather than needing to change that feeling, take a few deep breaths and allow the feeling of discomfort that comes with an unfulfilled want. See if you can allow the feeling to come and go without resisting it. 

These past few years, as our country has become more fragmented, and longstanding biases have come into plain sight, we've searched for ways to understand what we're experiencing more deeply and to benefit from perspectives that can help us envision a path forward. This week's episode of Our Dream Deferred: Fulfilling the Nation's Promise, we'll cover the importance of narrative change and how to do it in a positive way, what we can do as leaders and organizations to contribute to meaningful change, and what behavioral science can teach us about how to reach the people and communities we serve.   This episode's guest is Anthony Barrows, a Managing Director at idas42.   Be part of Our Dream Deferred. Use the hashtag #OurDreamDeferred or write to us at cbecker@aphsa.org.    This episode was produced by APHSA. Editing and sound design by Brandon Mitchell.   Links: http://ideas42.org/learn  https://anthonybarrows.com/home.html  https://www.mobilitypartnership.org/paper-categories/narrative    Book Recommendations: The Tyranny of Merit: What's Become of the Common Good? by Michael J. Sandel The Conversation: How Seeking and Speaking the Truth About Racism Can Radically Transform Individuals and Organizations by Robert Livingston Scarcity: The New Science of Having Less and How It Defines Our Lives by Sendhil Mullainathan and Eldar Shafir 

On this episode of Behavioral Grooves we chat with the founder of the engaging new app PIQUE. Bec Weeks is a behavioral scientist turned accidental entrepreneur! By joining forces with some of the brightest minds in behavioral science, including partners Sendhil Mullainathan, Eldar Shafir and Mike Norton, they have developed an amazing app that accompanies your favorite books. Pique takes users' interests in books to a new level with their slogan: Don't just read the book. DO the book. By using insights from psychology research, the app creates three-minute adventures that change how you see yourself and others. Pique helps you DO things. They know that just reading books doesn't lead to change. Doing leads to change. That's where the app can help. Pique has created curious, engaging content from some of the bestselling books from the last year: Katy Milkman's new book “How to Change” https://amzn.to/2RSeJCj Lidy Klotz “Subtract: The Untapped Science of Less” https://amzn.to/3p6XcT0  Annie Duke “How to Decide: Simple Tools for Making Better Choices”  https://amzn.to/3yRPWyO  And many more. You can check out the new app Pique here: https://getpique.app.link/4voB1E9VOgb. But first, listen in to Bec's chat with us. What You Will Learn About In This Episode (2:38) Welcome and speed round (5:06) What is Pique? (12:50) Why humor is an important part of the app (17:03) Why is the app called Pique? (21:13) How Bec has used analytics and algorithmic techniques  (23:05) Bec's journey to becoming an entrepreneur (26:49) The surprises of being an entrepreneur  (32:43) How Bec first became interested in behavioral science (34:37) What music would Bec take to a desert island? (41:11) Grooving Session  I you are a regular listener to Behavioral Grooves, we would really appreciate your support by writing us a podcast review or becoming a Behavioral Grooves Patreon Member at https://www.patreon.com/behavioralgrooves. Thank you! © 2021 Behavioral Grooves Links Bec Weeks: https://www.linkedin.com/in/becweeks/   Pique: https://getpique.app.link/4voB1E9VOgb Sendhil Mullainathan and Eldar Shafir “Scarcity: Why Having Too Little Means So Much” https://amzn.to/3uzvyz2  Ashley Whillans “Time Smart: How to Reclaim Your Time and Live a Happier Life” https://amzn.to/3wSy4lD  Wendy Wood “Good Habits, Bad Habits: The Science of Making Positive Changes That Stick” https://amzn.to/2TzXxSr  Dolly Chugh “The Person You Mean to Be: How Good People Fight Bias” https://amzn.to/34BinTD  Katy Milkman “How to Change: The Science of Getting from Where You Are to Where You Want to Be” https://amzn.to/2RSeJCj  Annie Duke “How to Decide: Simple Tools for Making Better Choices”  https://amzn.to/3yRPWyO  Lidy Klotz “Subtract: The Untapped Science of Less” https://amzn.to/3p6XcT0  Mike Norton and Elizabeth Dunn “Happy Money: The Science of Happier Spending” https://amzn.to/3c8Mlm1  Jennifer Aaker and Naomi Bagdonas “Humor, Seriously: Why Humor Is a Secret Weapon in Business and Life (And how anyone can harness it. Even you.)” https://amzn.to/3paWZhB  Daniel Kahneman “Thinking Fast and Slow” https://amzn.to/3fZDvbA  Episode 205: The Myth of the “Relationship Spark” with Logan Ury (featuring a guest appearance by Christina Gravert, PhD) https://behavioralgrooves.com/episode/the-myth-of-the-relationship-spark-with-logan-ury-featuring-a-guest-appearance-by-christina-gravert-phd/ Episode 220: How Do You Become Influential? Jon Levy Reveals His Surprising Secrets https://behavioralgrooves.com/episode/how-to-be-influential-jon-levy/ Episode 38: Linnea Gandhi: Crushing On Statistics  https://behavioralgrooves.com/episode/linnea-gandhi-crushing-on-statistics/ Episode 224: Why Is Noise Worse Than Bias? Olivier Sibony Explains https://behavioralgrooves.com/episode/noise-with-olivier-sibony/ Deese–Roediger–McDermott paradigm (DRM): https://en.wikipedia.org/wiki/Deese%E2%80%93Roediger%E2%80%93McDermott_paradigm  Musical Links Hamilton “Alexander Hamilton” https://www.youtube.com/watch?v=VhinPd5RRJw  Radiohead “No Surprises” https://www.youtube.com/watch?v=u5CVsCnxyXg  Taylor Swift “Love Story” https://www.youtube.com/watch?v=aXzVF3XeS8M  Dua Lipa “We're Good” https://www.youtube.com/watch?v=jr47YisIsz8  Wicked “Defying Gravity” https://www.youtube.com/watch?v=glsmLGpqMzA  Frozen “The Next Fight Thing” https://www.youtube.com/watch?v=TuC_-7vy_F0  Moana “You're Welcome” https://www.youtube.com/watch?v=79DijItQXMM  Billie Eilish “Your Power” https://www.youtube.com/watch?v=fzeWc3zh01g  Tame Impala “Let It Happen” https://www.youtube.com/watch?v=pFptt7Cargc  Powderfinger “These Days” https://www.youtube.com/watch?v=7XaSm9-r_4U&ab_channel=Powderfinger  Spiderbait “Black Betty” https://www.youtube.com/watch?v=nU1VfYYKMDk  The Cat Empire “Brighter Than Gold” https://www.youtube.com/watch?v=QM_rIaUm7ac   

Esta semana estamos hablando acerca de la mentalidad de escasez, esa manera negativa de ver la vida sintiendo que hay una cantidad limitada de dinero, amor, poder, clientes, etcétera; y sienten que cada vez que alguien gana algo, ahora queda menos en el mundo para ellos. El economista Sendhil Mullainathan y el psicólogo Eldar Shafir escribieron un libro llamado: “Escasez: Porque tener muy poco significa mucho”. En ese libro, los investigadores comparten una serie de experimentos cuyos resultados indican que, cuando nos sentimos en escasez, nuestro nivel de inteligencia disminuye y tomamos peores decisiones. Es como si la pobreza le cobrara un impuesto a la inteligencia. Escucha esta cápsula y descubre como la mentalidad de escasez afecta las decisiones que tomas.

Steven Manuel and Mark Parrett continue their conversation about poverty (10:30) as Mark reviews the book Scarcity: Why Having Too Little Means So Much, by Eldar Shafir and Sendhil Mullainathan. It describes, with research, how “not having enough” impacts people. It makes us stupid, insecure, impulsive, makes us spend money unnecessarily, etc. Mark tells about a dumb purchase he made at Princeton (38:30), dealings with poor tenants (44:30), hamster-wheel living (49:40), and all the gross things that a poverty spirit produces. Here at Abe's Wallet… we hate poverty (and love PLANNING, which is one of the antidotes to it)!

Steven Manuel and Mark Parrett continue their conversation about poverty (10:30) as Mark reviews the book Scarcity: Why Having Too Little Means So Much, by Eldar Shafir and Sendhil Mullainathan. It describes, with research, how “not having enough” impacts people. It makes us stupid, insecure, impulsive, makes us spend money unnecessarily, etc. Mark tells about a dumb purchase he made at Princeton (38:30), dealings with poor tenants (44:30), hamster-wheel living (49:40), and all the gross things that a poverty spirit produces. Here at Abe’s Wallet… we hate poverty (and love PLANNING, which is one of the antidotes to it)!

Antimicrobial resistance (AMR) is not only a biological issue, but a complex social problem. As a consequence, changing the way patients, healthcare professionals and policymakers think about antibiotics will require input from both the natural and social sciences. In March 2021, the Uppsala Health Summit on “Managing antimicrobial resistance through behaviour change” tackled this very problem. We spoke to three key participants – Otto Cars, Eldar Shafir and Vanessa Carter – to learn more.Tune in to find out:how the COVID-19 pandemic might affect AMR globallyhow the context around us influences the decisions we makehow patients’ stories can help communicate the urgency of AMRWant to know more?The Uppsala Health Summit is a recurring international policy arena for dialogue on healthcare challenges and how we can overcome them.Otto Cars is founder and now senior advisor to ReACT (Action on Antibiotic Resistance). He set the scene at Uppsala Health Summit 2021 with a lecture on the current status of AMR globally. In a recent interview, he described how to make the most of the COVID-19 momentum to spur much-needed action in the AMR sphere.Eldar Shafir is professor of behavioural science and public policy at Princeton University, with a special interest in the effect of poverty on decision-making. In his keynote lecture at the summit, he commented on the AMR problem from a behavioural perspective. He points us to a 2016 research paper on the effect of behavioural interventions on inappropriate antibiotic prescribing.Vanessa Carter is a South Africa-based patient advocate for AMR and e-patient scholar at Stanford University Medicine X. She suggests reading Tom Ferguson’s white paper on e-patients and their contribution to healthcare.This episode was produced in collaboration with The AMR Studio podcast at Uppsala Antibiotic Center. Tune into their show for more stories on antimicrobial resistance.Join the conversation on social mediaFollow us on Twitter, Facebook or LinkedIn, and share your thoughts about the show with the hashtag #DrugSafetyMatters.Got a story to share?We’re always looking for new content and interesting people to interview. If you have a great idea for a show, get in touch!About UMCRead more about Uppsala Monitoring Centre and how we work to make medicines safer for patients.

Welcome to this special episode at The AMR Studio in collaboration with Drug Safety Matters podcast. As a follow up to Uppsala Health Summit on “Managing antimicrobial resistance through behaviour change” we spoke to three key participants – Otto Cars, Eldar Shafir and Vanessa Carter – to learn more. We talked to them about how the COVID-19 pandemic might affect AMR globally, how the context around us influences the decisions we make, and how patients' stories can help communicate the urgency of AMR, among other things. We hope you thoroughly enjoy this episode! Check out the show notes at www.uac.uu.se/the-amr-studio/episodex7/. Follow our updates on twitter on www.twitter.com/uac_uu with #theAMRstudio hashtag! Theme music by Henrik Niss: www.tinyurl.com/henriknissspotify.

Mandy McAllister: The True Meaning of Financial Freedom Meet Mandy McAllister, a multifamily real estate investor, mindset ninja, eternal learner, coach, and connector. She quit her day job to achieve financial freedom through real estate and help others achieve their personal potential. In this episode of Construct Your Life with Austin Linney, Mandy shares her journey from quitting a W2 job to finding success in real estate syndication and coaching. She believes in moving incrementally and being honest when investing in real estate to achieve your passive income goal. Listen in to learn the true meaning of financial freedom in allowing you to live the life you desire. “Until you get true on separating your choice from your expectation, you’re never really going to understand who you are.”- Mandy [25:07] What You Will Discover: [3:09] The contribution of your childhood values to whom you become in life. [6:10] The value of passive income in allowing you to pursue your desired life. [10:07] Tips on how to build your real estate business incrementally. [20:24] The power of visualization and separating your expectations from your life choices. [29:22] How to precisely quantify your problems to reduce the fear stopping you from your desired life. [34:50] The value of planning to better manage your time when juggling many things. Relevant Links: Facebook: https://www.facebook.com/MandyMcAllisterRE Instagram: instagram.com/_mandy_mcallister_/ YouTube: https://www.youtube.com/channel/UCzmAp5I-QO4PS3U9kUEXRtQ Mandy’s Financial Calculator: https://www.mandymcallister.com/post/financial-goals-calculator Book Mentioned: Scarcity: Why Having Too Little Means So Much by Eldar Shafir #podcast

Learn how scarcity of anything — money, food or social connections — affects our daily lives and leads us astray. Scarcity reduces both intelligence and control. Having too little preoccupies and taxes the mind, making life much harder. "Even smiling and being pleasant is hard when your mind is taxed. The employee snaps at rude customers ... The parent snaps at the child ... The server rings up the wrong item.” Learn about the latest cutting edge behavioral science to find out how the poor can escape the scarcity trap and how we can all manage scarcity for better satisfaction and success.

Pretty much everyone around the world agrees that 2020 was a challenging year and we’re glad it’s all but over. However, 2020 was a year we upped the number of guests (to 90), upped our reading habits (20+ books for the show), and had more authors as guests than in any previous year. In short, Kurt and Tim read a lot of new books. And because we read bunches of them, we’re here to save you time by offering you our view of the top 10 books – 5 from Kurt and 5 from Tim – on behavioral science from 2020. We hope you enjoy them as much as we did – and as always, let us know what you think! For quick reference, here’s our list with links for your enjoyment. And here’s to happy reading in 2021! Top Book List from Kurt “Behave,” by Robert Sapolsky: https://amzn.to/3p5MJWF “Good Habits, Bad Habits,” by Wendy Wood: https://amzn.to/3p6v1lK “Scarcity,” by Eldar Shafir and Sendhil Mullainathan: https://amzn.to/3nsMS62 “Think Like a Rocket Scientist,” Ozan Varol: https://amzn.to/34n8OI7 “Before You Know It,” by John Bargh: https://amzn.to/3r7SbtT Top Book List from Tim “How to Decide,” by Annie Duke: https://amzn.to/38nHsmK “Behavioral Insights,” by Michael Hallsworth and Elspeth Kirkman: https://amzn.to/2WsJ1Kr “Alchemy,” by Rory Sutherland: https://amzn.to/2LEwRfd “Messengers: Who We Listen To, Who We Don’t, and Why,” by Steve Martin & Joe Marks: https://amzn.to/38gRHsH “Unleash Your Primal Brain,” by Tim Ash: https://amzn.to/3gYM1rr   Honorable Mentions “Elevate,” by Robert Glazer “Designing for Behavior Change,” by Steve Wendel “Invisible Influences,” by Jonah Berger “White Fragility,” Robin DeAngelo “The All-Or-Nothing Marriage: How the Best Marriages Work,” by Eli Finkel “The Power of Bad,” by Roy Baumeister and John Tierney “Better, Not Perfect,” by Max Bazerman “Time Smart,” by Ashley Whillans “Blindsight: the mostly hidden ways marketing shapes our brains,” by Prince Ghuman and Matt Johnson Thanks for listening and we hope you find your groove with these books! © 2020 Behavioral Grooves

Governments around the world constantly strive to reduce - if not completely eliminate - poverty within their respective countries. But the question has arisen of whether these programmes are enough, seeing as the unseen impacts of the scarcity mentality may make it even more difficult to escape poverty. We speak to Eldar Shafir, a behavioural economist at Princeton University, about scarcity, the behavioural effects of Covid-19, and avoiding the thick-skin bias in policymaking.

Modelical's Roberto Molinos on the benefits of being patient and embracing uncertainty, a series of techniques, theories, and books that can help you rethink your company and market your products, and his 4-day workweek. Roberto Molinos is an architect and holds a Master of Advanced Studies in Structural Design from Madrid Tech - Madrid (ES). He has developed undergraduate and graduate research with Rafael Escolá Foundation and POLE Europe program, completing essays on the use of information technologies in multidisciplinary projects. Roberto is the Managing Director of Modelical, a technology consultancy working at the intersection of design, engineering and computation with an extensive experience in complex projects across the globe. He also leads the BuiltTech program on digital transformation for the AEC industry at IE School of Architecture and Design - Madrid and is the co-director of Algomad, a workshop that seeks to spread the use of computational tools among the Spanish-speaking community. The strong bias toward believing that small samples closely resemble the population from which they are drawn is also part of a larger story: we are prone to exaggerate the consistency and coherence of what we see. —Daniel Kahneman, Thinking, Fast and Slow Books High Output Management by Andrew Grove Antifragile: Things That Gain from Disorder by Nassim Taleb Thinking, Fast and Slow by Daniel Kahneman Scarcity: The New Science of Having Less and How it Defines Our Lives by Eldar Shafir and Sendhil Mullainathan Cribsheet: A Data-Driven Guide to Better, More Relaxed Parenting, from Birth to Preschool by Emily Oster Favorite Quotes "Your company is your first product." "[Those] who can price the products properly [are] magicians." Links Modelical DejaVu HoloBuilder StructionSite Dynamo Customer Relationship Management (CRM) Salesforce, SugarCRM, Contactually, Pipedrive (CRMs) Basecamp & 37signals Case Inc & WeWork People mentioned Cal Newport Jason Fried & David Heinemeier Hansson (the Basecamp guys) Sarai Zabala (Modelical) Andrés De Mesa Gisbert Outline Teaser. [0:00] Intro. [2:12] Roberto Molinos. [2:29] Career contribution. [3:28] Modelical is good at selling Modelical. [5:06] Your company is your first product. [7:29] The playground. [9:51] Techniques to market and develop products. [11:58] Engaging the client late. [13:55] The importance of pricing your services. [16:15] How do sales happen? [18:18] CRMs. [21:06] Best format to distribute content and attract clients. [22:54] How do clients find you? [24:56] Missing on potential projects. [25:43] How is COVID affecting Modelical? [27:05] Promoting yourself. [28:18] Books to rethink your company. [30:30] High output management. [30:51] Don't worry about what you cannot predict. [31:32] Preparing for failure. [33:59] Save as much as possible. [36:01] A definition of antifragility. [36:49] Robustness or antifragility? [38:11] Books that influenced your decision-making process. [40:36] Consistency tradeoffs. [42:29] Consistency and automation. [44:26] Buying peace of mind. [46:17] How should we use the time we save? [50:44] Effectiveness. [52:21] The four-day workweek. [53:22] What will change after having kids? [56:23] The time blocking planning method. [57:15] Best ideas and creative moments. [59:53] More than thirty employees. [1:01:11] From 3 to 10 employees. [1:03:00] Do you consider your life simple? [1:05:12] Daily habits. [1:06:32] Work-life balance. [1:07:44] Success. [1:09:13] Role models. [1:11:42] Your message to the world. [1:17:08] What gives you goosebumps? [1:17:30] How was Modelical's first office? [1:18:35] Data-driven parenting. [1:19:34] Patience. [1:21:28] Connect with Roberto. [1:25:46] Outro. [1:25:57] Submit your questions and I'll try to answer them in future episodes. I'd love to hear from you. Join us on Discord and introduce yourself to the community. If you enjoy the show, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds and really helps. Show notes, transcripts, and past episodes at gettingsimple.com/podcast. Theme song Sleep by Steve Combs under CC BY 4.0. Follow Nono Twitter.com/nonoesp Instagram.com/nonoesp Facebook.com/nonomartinezalonso YouTube.com/nonomartinezalonso

If your average day at work is consumed with putting out fires and dealing with one emergency after the other, you’re on a very slippery slope. It’s a place New York Times bestselling author Dan Heath likes to call “downstream,” and before you know it, he warns, you’ll be stuck there. Tune in as Dan explains why adopting an upstream mindset—i.e., focusing on preventing problems rather than reacting to them over and over again—is crucial to moving your business forward and uniting your team.   entreleadership.com/podcast Upstream by Dan Heath Scarcity by Eldar Shafir and Sendhil Mullainathan #342: 5 Buckets of Leadership You're Responsible For with Dr. Henry Cloud Switch by Chip Heath and Dan Heath #380: Engaging With the Marketplace with Chris Ruder 25 Things You Can Delegate To A Social Media Strategist from BELAY Critical Thinking Cheatsheet Review this episode for a chance to win a $25 Amazon gift card   As an Amazon Associate EntreLeadership earns from qualifying purchases.   Want expert help with your business question? Call 844-944-1070 and leave a message or send an email to podcast@entreleadership.com. You could be featured on a future podcast episode!

ABOUT THIS EPISODE Psychologist Laurie Santos offered a course on well-being in 2018, and it became the most popular course ever offered at Yale University. Her online course also developed a strong following. Now she had a podcast called The Happiness Lab. I had a chance to talk with her about human happiness, and the ways in which our intuitions about what promotes happiness are often wrong. Our discussion includes a discussion of happiness in a time of a pandemic and of physical distancing, but also about happiness and race. LINKS Laurie Santos, Yale University (https://psychology.yale.edu/people/laurie-santos) The Happiness Lab podcast (https://www.happinesslab.fm/) Jeff Simmermon's Why You Should Be Happy (on Apple Music) (https://music.apple.com/us/album/why-you-should-be-happy/1504980720) Ashley Whillans, Harvard Business School (https://www.hbs.edu/faculty/Pages/profile.aspx?facId=943704) Sonja Lyubomirsky, UC-Riverside (https://profiles.ucr.edu/app/home/profile/sonja) Anand Giridharadas, Winners Take All (https://www.penguinrandomhouse.com/books/539747/winners-take-all-by-anand-giridharadas/9780451493248) Dan Ariely, "Americans Want to Live in a Much More Equal Country (They Just Don't Realize It)" in The Atlantic (https://www.theatlantic.com/business/archive/2012/08/americans-want-to-live-in-a-much-more-equal-country-they-just-dont-realize-it/260639/) Scarcity: Why Having Too Little Means So Much, by Sendhil Mullainathan and Eldar Shafir (https://www.amazon.com/Scarcity-Having-Little-Means-Much-ebook/dp/B00BMKOO6S) The Paradox of Choice: Why More Is Less, by Barry Schwartz (https://www.amazon.com/dp/B000TDGGVU/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1) Our Declaration: A Reading of the Declaration of Independence in Defense of Equality, by Danielle Allen (https://www.amazon.com/Our-Declaration-Reading-Independence-Equality-ebook/dp/B00FPT5KYW) The Blue Zones: Lessons for Living Longer From the People Who've Lived the Longest, by Dan Buettner (https://www.amazon.com/Blue-Zones-Lessons-Living-Longest/dp/1426207557) The Enchiridion, by Epictetus (https://www.amazon.com/Enchiridion-Epictetus/dp/1503226948/ref=sr_1_1_sspa?crid=1U66N1CQWPX7P&dchild=1&keywords=epictetus+enchiridion&qid=1591239645&s=digital-text&sprefix=epictetus+enc%2Cdigital-text%2C164&sr=1-1-spons&psc=1&spLa=ZW5jcnlwdGVkUXVhbGlmaWVyPUEyRkkwRE1QV0Y0M0s4JmVuY3J5cHRlZElkPUEwMTQ0NjkzM1BBVlRIRkpRUkJTSiZlbmNyeXB0ZWRBZElkPUEwNDAzMjgzVEUyQTRVWkdTU0M2JndpZGdldE5hbWU9c3BfYXRmJmFjdGlvbj1jbGlja1JlZGlyZWN0JmRvTm90TG9nQ2xpY2s9dHJ1ZQ==) Special Guest: Laurie Santos.

Jennifer Shahade is a two time United States Women's Chess Champion, poker player, author, commentator and podcast host. In this episode, Olivier and Jennifer discuss the book Scarcity by Sendhil Mullainathan and Eldar Shafir. Their wide ranging conversation addresses how a lack of resources can impact our decision making in poker and in life.

Nesta recebemos Romulo Viel pra entendermos como os problemas impactam em nossas escolhas em “Escassez” de Sendhil Mullainathan e Eldar Shafir . ======== COMPRE O LIVRO Amazon - https://www.amazon.com.br/gp/product/8568905196/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=8568905196&linkCode=as2&tag=b908-20&linkId=e4bbaae42fd14caf24dc6d8dd67e412f ======== COMENTADO NO EPISÓDIO Instagram do Romulo - https://www.instagram.com/romulovielsw/ Canal do youtube do Romulo - https://www.youtube.com/user/romuloOviel PicPay do Caixa de Histórias – Assine para receber contos na integra! - https://picpay.me/caixadehistorias Lojinha Caixa de Histórias na poeme-se - https://www.poemese.com/parceiros/caixa-de-historias ======== FALE CONOSCO . Email: caixadehistorias@b9.com.br . Facebook: www.facebook.com/caixadehistoriaspodcast . Twitter e Periscope: twitter.com/caixa_historias . Instagram: www.instagram.com/caixadehistorias . Grupo de Leitores no Facebook – Pandores: www.facebook.com/groups/pandores ==== APOIE O CAIXA DE HISTÓRIAS Apoia-se do Caixa de Histórias - https://apoia.se/cdh Patreon do Caixa de Histórias - https://www.patreon.com/CdH?ty=h PicPay do Caixa de Histórias - https://picpay.me/caixadehistorias

If you’re a Parks and Rec fan, you’ll remember Ron Swanson’s Pyramid of Greatness. Right there at the base sits “Capitalism: God’s way of determining who is smart and who is poor.” It’s a joke, but not really. Few want to justify the existence of poverty, but when they do, that's how they do it. People in poverty just aren’t smart enough, or hard-working enough, or they’re not making good enough decisions. There’s a moral void in that logic to begin with — but it also gets the reality largely backward. “The poor do have lower effective capacity than those who are well off,” write Sendhil Mullainathan and Eldar Shafir in their book Scarcity. "This is not because they are less capable, but rather because part of their mind is captured by scarcity.” They show, across continents and contexts, that the more economic pressure you place on people, the worse their cognitive performance becomes. Mullainathan is a genius. A literal, MacArthur-certified genius. He’s an economist at the Chicago Booth School of Business who has published foundational work on a truly dizzying array of topics, but his most important research is around what scarcity does to the brain. This is work with radical implications for how we think about inequality and social policy. One thing I appreciated about Mullainathan in this conversation is that he doesn’t shy away from that. This is one of those conversations I wanted to have because the ideas are so important and persuasive. I didn’t expect Mullainathan to be such a delight to talk to. But since he was, we also discussed the economics of our AI-soaked future, the power of rigid rules, the reason conversation is so much better in person, why cigarette taxes make smokers happier, what Star Trek got wrong, and how he’s managed to do so much important work in such a vast array of disciplines. We could’ve gone for three more hours, easily. If you liked this episode, you should also check out the Robert Sapolsky and Mehrsa Baradaran podcasts. Book recommendations: One Hundred Years of Solitudeby Gabriel García Márquez Where Good Ideas Come From: The Natural History of Innovation by Steven Johnson Man's Search for Meaning by Viktor E. Frankl Learn more about your ad choices. Visit megaphone.fm/adchoices

Mijn volgende gast, Charlotte van ‘t Wout, vindt ondernemen de ‘ultimate self-development game. Ik vind zowel ondernemen als zelfontwikkeling cool, dus ik wilde haar graag een keer interviewen. Charlotte is ondernemer van twee bedrijven en maakt naam op instagram met haar aaneenschakeling van praktische en amuserende instagram stories. Wat ik vooral leer van Charlotte is dat je ‘mindset’, oftewel wat er tussen je oren gebeurt, alle invloed heeft op wat je iedere dag doet. Een inspirerend gesprek met iemand die op een unieke wijze haar dromen najaagt. Waar hebben we het over? * Hoe Charlotte zichzelf een week opsloot om vervolgens een bedrijf bedrijf te starten * Comfortabel worden met uit je comfort-zone treden. * Tony Robbins. Waarom Charlotte hem zo vet vind en wat ik niet vet vind. * Waarom 80% genoeg is * Waar Charlotte en ik het oneens zijn met betrekking tot het geven van advies. * Hoe Charlotte haar leven optimaliseert naar wie ze is. Shownotes: * Tim Ferris * Tony Robbins * Scarcity - Sendhil Mullainathan, Eldar Shafir

Ayeisha Thomas-Smith discovers how when we suffer a scarcity of mental resources, we fail to plan for our futures. That means, according to Princeton psychology professor Eldar Shafir, that millions of people on low incomes where money is scarce are finding it much harder than others to improve their lives. Not because they are untalented or do not want to, but because their brain circuitry is overloaded. And the professor believes even people who are not short of money but are trying to lose weight, could also be impacted by this scarcity mindset. Ayeisha hears about experiments in the US and India which seem to show that as our mental “band-width” diminishes and we become overloaded by problems, our chances of thinking our way out of our situation reduces as well. (Photo: An Asylum Seeker. Credit: Getty Images)

Te acuerdas de los Beverly Ricos? Los Beverly Ricos fue una exitosa serie de televisión Norteamericana producida entre los años de 1962 a 1971, que contaba la historia de una familia de humildes montañeros quienes descubrieron accidentalmente petróleo en sus tierras y se mudaron como nuevos ricos a Beverly Hills, donde adquieren una lujosa mansión, pero sus costumbres siguen siendo las mismas, vistiendo la misma ropa, hablando de la misma manera, conservando los mismos hábitos y formas de pensar, que tenían cuando eran pobres, temática que hizo de esta serie una de las más cómicas y divertidas de los años 60. Te quiero contar que de niño esta serie me encantaba, pues era muy divertido ver a los Clampett relacionándose con la crema innata de la ciudad o ver a la abuela usando la piscina de la mansión para lavar la ropa y usar las finas esculturas que rodeaban la misma como tendedero. Recordar esta serie de grande me ha hecho reflexionar acerca de la mentalidad de pobreza, pues aunque esta familia se había vuelto rica de la noche a la mañana, vivían en un lugar exclusivo y el petróleo les había dado una fortuna de 1000 millones de dólares, seguían siendo pobres en sus mentes. Y ya hablando más en serio, Según el economista conductual Sendhil Mullainathan y el psicólogo cognitivo Eldar Shafir de las universidades de Harvard y Princeton, la pobreza es más que un tema financiero: es también un problema de mentalidad. Los estudios de estos expertos demuestran que cuando la pobreza captura nuestra mente, establece una forma de pensar y, por lo tanto, una forma de actuar, de la cual es difícil salir, pero no imposible. Esto significa que no todos los problemas de dinero se solucionan con dinero, sino con cambiar nuestra mentalidad. ¡Si quieres saber como cambiar la mentalidad de pobreza, acompáñame en este episodio! Si quieres saber más, ingresa a: www.consejofinanciero.com ***** Créditos The Beverly Hillbillies - pista doblada al español

Eldar Shafir is a behavioral economist/behavioral scientist at Princeton University. He co-wrote the book Scarcity with Sendhil Mullainathan. Hunter and Bryan draw out the depth of contrast between the reality of poverty and the assumptions of Homo Economicus as the keystone of human behavior. Go on mixedmentalarts.online, click the Amazon affiliate link! We also work with Audible, so if  you want to give the audio book a try, go to http://www.audibletrial.com/mma We also have a Patreon! If you have a buck, please share with us! We’ll try and send you some swag.

Although ostensibly about economics, this book is in fact about the effect of poverty of various kinds on the mind. Poverty is a shortage of resources. It could be money, time (busy people are "time-poor"), or some other resource. When people experience scarcity, their minds automatically, subconsciously devote mental resources to the issue. The results of this are two. 1. They are more rational in their approach to the use of the resource, and use it more prudently. For example, usually supermarkets will have more than one size of packs of things, with the idea that if you buy a six-pack, it is cheaper per can than buying six individual cans of drink. However, sometimes supermarkets will play a trick, making the larger pack more expensive per item than the individual item. Poor people get caught out by this kind of trick much less often, as they are paying attention to prices, and reasoning about what is the best use of their money. 2. More importantly, the automatic assignment of mental resources to deal with the scarcity reduces the remaining free mental resources. This means that they have lower self-control, and - rather shockingly - have lower effective intelligence (i.e. they behave as if they were less intelligent than they "really" are, since some of their mental energy is constantly being consigned to worrying about money). This has important consequences for thinking about the way the mind operates, as well as, on a social level, the effect of poverty on people's mental abilities. I hope you can see how, despite appearances, this book is in fact very relevant to education. Enjoy the episode. Music by podcastthemes.com.

Audiobooks, capital, banks, slavery, regulation, choice, racism, and the racial wealth gap. Mehrsa Baradaran joins the show for the fourth time to talk about her latest book. Recorded in front of a live audience at the University of Georgia School of Law. This show’s links: Mehrsa Baradaran’s faculty profile (http://www.law.uga.edu/profile/mehrsa-baradaran) and academic writing (https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=1178148) Mehrsa Baradaran, The Color of Money: Black Banks and the Racial Wealth Gap (https://www.amazon.com/Color-Money-Black-Racial-Wealth/dp/0674970950) Barack Obama, The President's Role in Advancing Criminal Justice Reform (http://harvardlawreview.org/wp-content/uploads/2017/01/811-866-Online-Rev-vf.pdf) Ta-Nehisi Coates, We Were Eight Years in Power: An American Tragedy (https://www.amazon.com/We-Were-Eight-Years-Power/dp/0399590560) Eric Foner, Reconstruction Updated Edition: America's Unfinished Revolution, 1863-1877 (https://www.amazon.com/Reconstruction-Updated-Unfinished-Revolution-1863-1877/dp/0062354515) (see also Eric Foner, Why Reconstruction Matters (https://www.nytimes.com/2015/03/29/opinion/sunday/why-reconstruction-matters.html) (a brief but informative opinion essay)) Oral Argument 76: Brutality (http://oralargument.org/76) (guest Al Brophy) Sendhil Mullainathan and Eldar Shafir, Scarcity: Why Having Too Little Means So Much (https://scholar.harvard.edu/sendhil/scarcity) Mehrsa Baradaran, How the Other Half Banks: Exclusion, Exploitation, and the Threat to Democracy (https://www.amazon.com/How-Other-Half-Banks-Exploitation/dp/B01MQZYGE8/) Alfred Brophy, Reparations: Pro and Con (https://www.amazon.com/Reparations-Pro-Alfred-L-Brophy/dp/0195304071/) William Darity, Jr. and Dania Frank, The Economics of Reparations (http://www.jstor.org/stable/3132248) Jamelle Bouie and Rebecca Onion, Reconstruction (http://www.slate.com/articles/slate_plus/reconstruction.html) (a podcast from Slate) Special Guest: Mehrsa Baradaran.

Investigaciones recientes indican que la pobreza puede ejercer un gran efecto sobre la inteligencia. En una serie de interesantísimos experimentos, el doctor Eldar Shafir, profesor de ciencia del comportamiento y asuntos públicos de la Universidad de Princeton, EE.UU., concluye que la pobreza disminuye significativamente el nivel de inteligencia de quienes la padecen. Este efecto es reversible, y la mejora de las condiciones económicas aumenta el nivel de inteligencia.

I’ve been looking for a chance to do a podcast with today’s guest for months. Colin Walsh is the founder and CEO of Varo, an online tool that aims to make it easy and affordable for consumers to manage their financial lives. Colin and I first met at last year’s fintech conference hosted by the Federal Reserve Bank of San Francisco, and I’ve enjoyed, ever since, watching the rapid growth of his startup. Varo was still in development when we talked and is now in private beta, with plans to launch next year. I find them especially interesting in many ways, including that they raised $27 million this year; that the founders are very experienced banking executives; and that they are creating an ambitious product to meet multiple consumer needs at once. Maybe my favorite thing is that they are creating the Varo Bot, a chatbot that uses artificial intelligence to actually take the initiative to help customers manage daily money tasks easily and well. The move toward fintech solutions that are proactive instead of reactive is a real breakthrough, because it attacks one of the biggest obstacles to consumer financial health -- people not really understanding how best to manage their money, or just not thinking about that question before, rather than after, they spend or borrow. Varo is solving for that. Colin has two and a half decades of leadership experience with global brands in Europe and the US, including as an EVP at American Express, Managing Director at Lloyds Banking Group, and an EVP at Wells Fargo. In this episode Colin explains his motivation in undertaking a fintech startup after years at big companies. He talks about why Varo’s initial focus is simple, transparent mobile tools for millennials. He talks about the power of starting from a clean slate, with no legacy of what he calls “bad revenues,” and no challenges caused by having data “trapped in silos,” which is a major problem for banks. He also has thought-provoking advice for both banks and regulators. Here are some links: Varo is at www.varomoney.com He also refers to the book Scarcity: Why Having Too Little Means So Much, by Sendhil Mullainathan and Eldar Shafir on consumer decision-making behavior. I know you’ll enjoy hearing his insights. And more for our listeners: To help you keep up with innovators like Varo, I’ve been launching a series of social media channels that feature all my podcast guests as well as my blog posts and speeches. Sign up for my new monthly newsletter at jsbarefoot.com, head to my new facebook fan page, and please follow me on twitter.  I have some big news coming up – I’m co-founding a RegTech venture, so don’t miss hearing about it! Also, please send in your “buck a show” to support Barefoot Innovation. We now have thousands of listeners around the world, and we need support to keep the show coming and keep it timely, with my little band of part-time helpers. Support our Podcast Meanwhile, be sure to come back next time, when my guest will be the CEO of Ripple, Chris Larsen. Subscribe Sign up with your email address to receive news and updates. Email Address Sign Up We respect your privacy. Thank you!

Many of us get stuck in life, because for some reason or the other we’re resistant to change. Being resistant to change is like being resistant to gravity, we might be able to counter some the effects of it, but it’s always going to be there. There are some amazing gifts that come from embracing change, and Jenny Blake joins me to jam about the ways to embrace change rather than to resist it. Ready? Let’s do this!   Key Takeaways: [0:51] Thank you to our sponsor, SaneBox.com [1:51] Charlie tells us a bit about Jenny and her body of work. [3:54] What excites Jenny the most about living in New York? [5:16] How did Jenny get started with ‘Life After College’ before leading Google? [6:41] How did she handle her crisis of confidence when she decided to leave Google? [7:54] How did Jenny find her spark after struggling with her confidence & the path she was on? [12:45] Jenny’s ‘aha’ moment with PIVOT & digging herself out of the ‘dark existential hole’. [15:03] How do you get in that creative spark zone without crisis or hitting rock bottom? [18:19] Meditation practice is a big business accelerator for Jenny! [21:29] What was most surprising when writing her book, PIVOT? [24:54] We never know what the future holds, but we do have certain ‘constants’! [29:53] The new security for Jenny: having a diversified portfolio of our day & our income. [31:46] What do you do when you’re in an ‘okay’ or a ‘great’ job by others’ standards, but that it’s not the ‘IT’ job for you? [34:53] What kind of life do you want to live? Are you aligning your day-to-day with your values? [39:21] What are the pieces of your priorities’ pie & how are you going to portion & slice it up? [42:14] Jenny suggests finding ‘constants’ in your life to help you make better decisions. [46:37] Within a decision itself you can have known and unknown variables. Turn the scary unknowns into ‘how can I’ questions? [49:21] What is the most unanticipated challenge Jenny is facing right now & what is a known ‘unknown’ for her? [55:41] What does Jenny want people to remember about her or her body of work?   Mentioned in This Episode: SaneBox JennyBlake.me @jenny_blake Life After College PIVOT by Jenny Blake Sacret Contracts by Caroline Myss Antifragile by Nassim Nicholas Taleb Scarcity by Sendhil Mullainathan and Eldar Shafir

I am absolutely delighted to share today's episode -- my conversation with Michael Barr. Most of our listeners know Michael as the former Assistant Treasury Secretary for Financial Institutions who shepherded the Obama administration's efforts on the Dodd-Frank financial reform law. Fewer people may know of his role in developing the proposal for, and negotiating the enactment of, the Consumer Financial Protection Bureau, which is when I got to know him.  He is now back at the University of Michigan (my own alma mater) as a law professor, and continues to be very active across a wide spectrum of consumer finance and financial regulation activities, and also on lending to small businesses. Michael has thought hard about the toughest challenges in consumer finance, drawing on both his government experience and his academic activities (among other things, he's a Rhodes Scholar). He also works extensively with innovators and nonprofits. In our conversation he offers insights on some of the most critical topics facing consumer finance. Perhaps the most central principle driving his ideas is behavioral economics - coming to grips with the reality that consumers are not perfectly rational, and don't have perfect information, in making financial decisions. "We ought to design both products and policy around the way human beings actually make decisions and behave," Michael tells me. See below for links to his research on this, including his paper "Behaviorally-Informed Regulation." One result of his behavioral focus is a refreshing readiness to rethink consumer financial education. At one point he says, "just as we couldn't explain how our smartphones operate," financial consumers don't necessarily need to know how financial products are designed, in order to use them effectively. He thinks, as I do, that today's technology can create simple new tools that nearly anyone can use, whether they have a sophisticated financial education, or not. Another issue he raises is his involvement in developing the "small business borrowers' bill of rights" (see our earlier podcast discussing this with Brian Graham of BancAlliance). There is growing concern that online small business lending is creating borrower risks as well as opportunities, especially as America shifts toward the so-called 1099 economy and more people run small businesses in ways that closely parallel consumer finance. Michael also explores the challenge of crafting regulation that enables innovation while still blocking harm. He says regulators sometimes allow harmful practices to emerge and grow until they hit a "tipping point," at which point they drive industry standards so low that good companies can't survive without adopting activities they would rather avoid.  I agree with him that this is a key challenge, especially as innovation accelerates.  If regulators intervene too early and aggressively, we'll have the government designing our financial products, instead of the market doing so.  On the other hand, if they are too passive or too late in addressing really harmful practices - especially if they wait until after that tipping point has actually tipped - they will fail to protect large numbers of people from harm, and they may also find it difficult to act.  Once products are widespread, there are strong political forces ready to defend them, as well as practical problems with potential regulatory impacts on businesses and sometimes even the financial system itself. I asked Michael for his advice about these kinds of challenges, for all the players in this ecosystem. I think you'll find his answers really interesting, including some thoughts he shares about the logic behind the design of the CFPB. I also asked him whether we might be moving toward a fundamentally new market model, in which technology-driven transparency will require financial companies to compete mostly on winning and keeping people's trust. His answer to that is thought-provoking, too. Michael was Assistant Secretary of the Treasury for Financial Institutions from 2009-2010. He previously served as Treasury Secretary Robert Rubin's Special Assistant, as Deputy Assistant Secretary of the Treasury for Community Development Policy, as Special Advisor to President Bill Clinton, as Special Advisor and Counselor on the Policy Planning Staff at the State Department, and as a law clerk to U.S. Supreme Court Justice David H. Souter.  He received his J.D. from Yale Law School, an M. Phil in International Relations from Magdalen College, Oxford University as a Rhodes Scholar, and his B.A., summa cum laude, with Honors in History, from Yale University. His activities today include serving on the boards of Lending Club (in Episode 5 we interviewed CEO Renaud LaPlanche) and Ripple, as well as ideas42, a behavioral economics research and development lab. He's on the FDIC Advisory Committee on Economic Inclusion and the Washington Center for Equitable Growth. He's on the advisory board of CFSI and has advised its U.S. Financial Diaries Project (see our interview with Jennifer Tescher of CFSI for more). He is also a fellow at the Filene Research Institute. In his current role as Roy F. and Jean Humphrey Proffitt Professor of Law at the University of Michigan Law School, Michael teaches courses in domestic and international financial regulation. He's also been instrumental in forming the University of Michigan's Center on Finance, Law and Policy, which integrates finance, law, business, and computer science to work on difficult problems facing the world, including how to make the financial system fairer and safer. I highly encourage you to peruse his faculty website to find more resources. Below you can find links to works referenced in the episode: Small Business Borrowers' Bill of Rights Michael's latest book "No Slack: The Financial Lives of Low-Income Americans" Hamilton Project paper on increasing access to capital for minority and women entrepreneurs Michael's paper on Behaviorally Informed Regulation co-authored with Sendhil Mullainathan, Harvard University and Eldar Shafir, Princeton University And here is the site of the FDIC's Advisory Committee on Economic Inclusion                  Enjoy my conversation with Michael Barr! If you enjoy our work to bring together thought provoking ideas and people please consider a contribution to support the site. Donate Please subscribe to the podcast by opening your favorite podcast app and searching for "Jo Ann Barefoot", or in iTunes.    

(Image credit: Jerry Nelson) Jo Fidgen interviews Eldar Shafir, professor of psychology and public affairs at Princeton University, and co-author of Scarcity: Why Having Too Little Means So Much in front of an audience at the Blavatnik School of Government at Oxford University. Jo will explore the book's key idea: that not having enough money or time, shapes all of our reactions, and ultimately our lives and society. Producer: Ruth Alexander.

Eldar Shafir, Princeton professor & Ideas42 co-founder Eldar Shafir sheds light on the psychology of poverty.