psychology

Attention is a limited resource. Paying attention to one thing necessarily comes at the expense of another.

Deflation is far worse than inflation

An inflationary environment has the opposite effect when considering previously accumulated debt. In outright Dollar terms, rising wages and revenues can more easily cover interest payments. This is referred to as ‘inflating away debt’. Obviously living costs also increase, but after a few years of more brisk

Insight may seem to come from nowhere, but really, it comes from somewhere quite specific: from the attic and the processing that has been taking place while you’ve been busy doing other things.

RULE 13 Show a genuine interest in other people. All the effort in the world won’t matter if you’re not inspired. —Chuck Palahniuk Fear not those who argue but those who dodge.

That is the meaning of the statement that “people are not adequately sensitive to sample size.”

This is also why Tim Ferriss tells entrepreneurs to start out with a hobbyist approach to their first start-up: nights and weekends.21 Curiosity into passion; passion into purpose; and purpose into patient profit—that’s the safest way to play this game.

How people think about something makes the crucial difference in how they will experience it.

But even with a positive relationship cultivated and uncertainty reduction accomplished, a remaining goal needs to be achieved to boost the likelihood of behavioral change. In such a situation, the goal of motivating action becomes the main objective.

It is interesting that this same process may account for the problems some subsequent presidents—Carter, Clinton, Obama, and Trump—had in getting their programs through Congress. They came to the presidency from outside the Capitol Hill establishment and campaigned on their outside-Washington identities, saying that they were indebted to no one in