2013 Global Empowerment Meeting. Nov. 11, 2013
Harvard University economics professor … explains how scarcity – and our flawed responses to it – shapes our lives, our society, and our culture.
scarcity generates a similar psychological reaction for everyone struggling to manage with less than they need. The dynamics of scarcity reveal why dieters find it hard to resist temptation, why students mismanage their time and why sugarcane farmers are smarter after the harvest than before.
Scarcity provides a new way of understanding why the poor stay poor and reveals not only how scarcity leads us astray …
Lexical Decision Task
time scarciy has this huge productive benefit
Raven’s progressive matrices: fluid intelligence
26:55 the effect of thinking about money for the poor has the same magnitude as going a night without sleep
28:20 ~ 9 IQ points
Scarcity: Why Having Too Little Means So Much
The Aspen Institute. Sep 26, 2013
How Scarcity Trap Affects Our Thinking, Behavior
January 02, 2014
by Shankar Vedantam
Scarcity, whether of time or money, tends to focus the mind on immediate challenges.
You stretch your budget to make ends meet.
People in the grip of scarcity are tightly focused on meeting their urgent needs, but that focus comes at a price.
Important things on the periphery get ignored.
That’s at the heart of the scarcity trap. You are so focused on the urgent that the important gets waylaid. But because the important gets waylaid, you’re experiencing even more scarcity tomorrow.