- Money represents what can be
- Money allows us to quantify and exchange trust
- The promise of money does not trigger the same places in the brain as something exchangeable for money
- “Shekels” used to be a measure of barley that workers would get for a day’s labor
- We loath signing our future-self up for work
- We are usually willing to pay a premium to avoid the chance of regret
- Often, buying a more expensive something lets you feel better about the medication and food
- The “Compromise” premise (showing a high price to start thing inclines us to buy something between the most and least expensive item) disappears when we complete the transaction
- It is only around when we have something to compare
- To avoid the premise: While shopping, imagine the thing in the context of its final placement
- Financial incentives teach us to only work when there is an incentive
- “Yes, money does have motivational power but only as long as it is getting paid.”
- Financial rewards represent a “physical” manifestation of our work
- Praise should be honest and succinct
- “Pay enough or don’t pay at all”
- (Don’t go cheap with friends)
- A small gift is better than paying a friend
- Help people to understand they have some control
- We view poor people with disgust and as non-human
- Ask rich people for a donation not a deal
- We want things people we like have but only if it is achievable
- We are okay with people doing immoral things if it is for “enough” money
- Gamblers tend to see “near misses” rather than “losses”
- We like to think we hate taxes but we actually like to pay them
- “Thrive” and “Thrift” come from the same word
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