deadlines and time scarcity precedes higher productivity.
poverty is self reinforcing… with strong positive feedback.. that is to say poor makes poor.. it all starts in the mind.
really like minute 30
the poor are very savvy.. they know the cost of a cab even though they can’t take one and they know the price they pay for things at the grocery store, etc.
scarcity has positives and negatives.
busy people focus on the urgent and neglect the important
loans are dangerous.. in these situations because it allows people to add cost to the things that they are not focused on so that they can do whatever they are focused on faster.
time and money.. it’s all about scarcity.. so lessons can be learned
there is something about borrowing that is intrinsic to scarcity
borrowing is the second biggest problem of scarcity
the biggest problem of scarcity is that the thing that is generating scarcity consumes you, your mind, your being.
scarcity becomes a preoccupation.
bandwidth characteristics – clear thinking, self control, learning, memory, creativity… scarcity’s biggest effect is to tax bandwidth..
it’s like a computer processor running background applications. bandwidth can be tested.
getting the poor to think about money.. their cognitive abilities seize up?
the same person when they are poor has less capacity.
the same farmer when they are poor makes more mistakes than when they are rich.
when you are experiencing poverty, your scarcest resource is bandwidth.
when you tax bandwidth, that is more expensive for the poor than for the rich. aka fafsa forms
people do not control their bandwidth.. bandwidth is controlled by lower order processes.
also, be aware of the consequences of framing… when
the poor are experts at making ends meet today. interest rates are prices that are in a domain that they are not focusing on.
the psychology of intrusive thoughts teaches us that meditation / aka just taking time out / improves decision making. mindfulness techniques are good.
the consequences of bandwidth tax for decision making is enormous.
some tasks require bandwidth.. these require lots of excess time… usually 3 hours or more.. sometimes they take an hour just to get into it.
some tasks require no bandwidth… like meetings
there is a reason that most people think that their most interesting ideas came to them when they were undergrads, because they had excess time.
meeting free fridays would change people’s perception of bandwidth.
time segregation and grouping and management.
the deepest bias in understanding others is that we neglect bandwidth. do we see decisions as “Bandwidth compromised” or “problematic person”
a way to separate frugal from scarcity
frugal do not experience trade off thinking unless they are enforcing a budget… but tradeoff thinking is someone who is experiencing scarcity.
man.. i think of everything in the context of tradeoff thinking, is that stupid or bad?
hey, by the way, here is something to think about instead of the next question?
conditional cash transfers… we will give you money if you meet the conditions.. but to respond to the conditions takes a great deal of bandwidth.
conditionality inherently uses up bandwidth.