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Not all debt is bad. From time to time we should get into debt when there's a good reason for that.

Dan Ariely

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Dan Ariely
Age: 57
Born: 1967
Born: April 29
Economist
Pedagogue
Professor
Psychologist
University Teacher
Writer
New York City
New York
Debt
Reason
Good
Time

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A very simple bad decision is to get into debt. And that is very expensive.
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I think we could get people to both be more productive and happier. We're less productive as individuals. We're less productive as companies, and we're more miserable.
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But suppose we are nothing more than the sum of our first, naive, random behaviors. What then?
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When parents have college savings accounts for their kids, their kids show higher social and cognitive performance.
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Motivation, basically getting people to be happy at work, everybody - everybody benefits.
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Money is a wonderful invention. It lets us save, it lets us specialize, right? I couldn't be a professor if there wasn't any money. Every day I would have to raise chicken and bread and broccoli and go ahead and spend all my time trading. So, money is a wonderful mechanism.
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I don't know what exactly the translation is but when we do consume something now, something else has to give at some point.
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The real issue is, how much goodwill do you invest in the work? And goodwill is not something that we can buy with money. It's very hard to buy goodwill with money.
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With everything you do, in fact, you should train yourself to question your repeated behaviors.
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But because human being tend to focus on short-term benefits and our own immediate needs, such tragedies of the commons occur frequently .
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If I gave you now, $10 as a gift, how happy would you be? Would you be happy, is the marginal $10, the best use of $10 you can use? Of course not. If I have you a CD, you know exactly what you are getting and you will have a value for it. So, money has lots of problems with it.
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The problem with opportunity cost is that opportunity cost is divided among many, many things.
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Money is all about opportunity cost. Every time you spend on something, that's something you can't spend on something else.
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We usually think of ourselves as sitting the driver's seat, with ultimate control over the decisions we made and the direction our life takes but, alas, this perception has more to do with our desires-with how we want to view ourselves, than with reality.
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