Question for Dan: I really don't see a line between micro-economics and psychology. I find your work fascinating but I am not so sure it is wise to call in part of economic sciences because the public at large think that behavioral economics (what I think is just psychology) means that markets never work....
well, if that was the universe of choice, i would choose lattes b/c that only makes me fat and lethargic; cable will also make me lethargic but the direct hypnosis will negatively affect my critical thinking skills way more than lattes.
in our reality now, i still drink hot chocolates from starbucks very infrequently, but i reduced cable watching from my 'diet' in '05 and cut it out completely in '07.
Ed...your missing the point on the economy dude....first year economics....savings = investment...investment fuels economic growth through efficient asset allocation....you not spending your savings at starbucks therefore doesnt hurt the economy.
this guy has some good things to say but if i don't buy my lattes and books now i will be missing out on them right now when i want them. i will also be hurting the economy by not buying products being sold which will lead to a pay cut at work or something similar. so in the longrun i am really only hurting myself either way.
Escalating debt, usurious interest and financial ruin is painful! It is much better paying cash to enjoy painless meals! Raising debit cards above cash on the pain scale is wrong. It is less painful to use debit cards; it's safer. Call me paranoid, but I hesitate to pay in cash. Suppose I'm walking out the door of a restaurant, and the waiter claims I did not pay? Debit cards are more palatable (pardon the pun); some give a modicum of buyer protection like their evil credit card counterparts.
Well, you would also have to account for the electricity cost of playing on your tv and console or running your pc for that many hours, but I see your point.
These thoughts are why I decided to give up going to the movies and went back to gaming. I used to pay the same price for 2-5 hours of entertainment as I now do on 50-500 hours.
What if you instead spent all this time trying to save or making more money, whats the equilibrium?
TmexIronman 2 weeks ago
Question for Dan: I really don't see a line between micro-economics and psychology. I find your work fascinating but I am not so sure it is wise to call in part of economic sciences because the public at large think that behavioral economics (what I think is just psychology) means that markets never work....
MrSaemisch 4 weeks ago
@MrSaemisch microeconomics is crap.
zdeklinowany 3 weeks ago
Kenny Hotz?
SuperBlackJesus321 1 month ago
Nice to see I've always thought like this naturally.
Nev3rdie00 1 month ago
How to see value of money if almost anything that's fun is free or extremely cheap?
scotty79 1 month ago
@scotty79 If that were the case, then saving or seeing the value of money would not matter.It would be irrelevant because you wouldn't ever lack it.
TagRation 1 month ago
Adriaaaaan!!!!!!
WaldemarKanakenberg 2 months ago
Dutch & Jewish people have known these things for centuries. Welcome to our world.
StrangeYoghurt 2 months ago
i was like what's pain of pain?
and then i realized he was saying pain of paying
xD
cubenori 3 months ago
I got one better. Write how many hours you worked for that money on the envelopes. Only works for poor to middle class*
jonmichaeljordan 3 months ago
I like getting money as a gift...
Kenneth1238 4 months ago
This man is releasing all of the jews secrets!!! LISTEN UP PEOPLE!!
metyzermanfan19 4 months ago
4:16 lattes vs. cable?
well, if that was the universe of choice, i would choose lattes b/c that only makes me fat and lethargic; cable will also make me lethargic but the direct hypnosis will negatively affect my critical thinking skills way more than lattes.
in our reality now, i still drink hot chocolates from starbucks very infrequently, but i reduced cable watching from my 'diet' in '05 and cut it out completely in '07.
KnowledgeDriven 5 months ago
TWO FACE!
shawoody 6 months ago
A little edit after 'the pain of paying' would have been possible...
ReX342 7 months ago
YOU CAN HAVE UNIVERSITIES AND PROFESSORS WITHOUT MONEY
MKowloon 9 months ago
@MKowloon Maybe you can. But he can't. I can't. Governments apparently can't. 'Free markets' and churches who wish promote creationism can't.
ReX342 7 months ago
@MKowloon how
kris6682 3 months ago
Excellent insight
delacruzink 1 year ago
Comment removed
cywongdigi1984 1 year ago
Ed...your missing the point on the economy dude....first year economics....savings = investment...investment fuels economic growth through efficient asset allocation....you not spending your savings at starbucks therefore doesnt hurt the economy.
primetime133 1 year ago
Comment removed
brookx5 2 years ago
this guy has some good things to say but if i don't buy my lattes and books now i will be missing out on them right now when i want them. i will also be hurting the economy by not buying products being sold which will lead to a pay cut at work or something similar. so in the longrun i am really only hurting myself either way.
ed0985587 2 years ago
Giving up on necessary consumption doesn't necessarily hurt the economy. Economies are not zero sum.
Architectonic01 2 years ago
@ed0985587 is this not just an excuse to buy more lattes?
cacaolover1 1 year ago
Escalating debt, usurious interest and financial ruin is painful! It is much better paying cash to enjoy painless meals! Raising debit cards above cash on the pain scale is wrong. It is less painful to use debit cards; it's safer. Call me paranoid, but I hesitate to pay in cash. Suppose I'm walking out the door of a restaurant, and the waiter claims I did not pay? Debit cards are more palatable (pardon the pun); some give a modicum of buyer protection like their evil credit card counterparts.
holosys 2 years ago
People suck with money lol... What this guy's saying is essentially common sense, yet people find it fascinating...
ParadoxLC 2 years ago
Well, you would also have to account for the electricity cost of playing on your tv and console or running your pc for that many hours, but I see your point.
Chumandoo3 2 years ago
These thoughts are why I decided to give up going to the movies and went back to gaming. I used to pay the same price for 2-5 hours of entertainment as I now do on 50-500 hours.
haerverk 2 years ago