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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
Good
Time
Debt
Reason

More quotes by Dan Ariely

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People are irrational - and predictably so.
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For all of us, it's very hard to think about money, and because of that, we need help. In the same way that for all of us, it is hard to eat well, and we need some help. The poor have a particular challenge, which is that their life is actually much more complex - and they're much more complex cognitively.
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When we save, everybody in the household is just suffering. By having the coin in a visible way, when you scratch, you can say the person that is in charge of the making money for the family is doing the right thing.
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Companies, however unintentionally, choke the motivation out of their employees.
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The most difficult thing is to recognize that sometimes we too are blinded by our own incentives. Because we don’t see how our conflicts of interest work on us.
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It was shocking to realize how many low-income Americans don't have savings accounts.
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The problem is that people basically dangle debt in front of us. And the cost for the poor of course is much higher than for the wealthy.
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Motivation, basically getting people to be happy at work, everybody - everybody benefits.
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If you ever go bar hopping, who do you want to take with you? You want a slightly uglier version of yourself. Similar ... but slightly uglier.
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Thinking is difficult and sometimes unpleasant.
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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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The experiments show quite clearly that, as you resist more and more temptation, you're actually more and more likely to fail.
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We are all far less rational in our decision-making than standard economic theory assumes. Our irrational behaviors are neither random nor senseless: they are systematic and predictable. We all make the same types of mistakes over and over, because of the basic wiring of our brains.
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We have very strong intuitions about all kinds of things — our own ability, how the economy works, how we should pay school teachers. But unless we start testing those intuitions, we’re not going to do better.
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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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When people are in severe pain, there's an expression, you're a pain person, and what that means is that nothing else matters.
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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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Linking financial element to energy consumption I think has a huge role if you think about a display instrument that could teach us about what we are using, how much it costs us, how much it is saving, and therefore change our decisions.
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One of the big lessons from behavioral economics is that we make decisions as a function of the environment that we're in.
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When we think about labor, we usually think about motivation and payment as the same thing, but the reality is that we should probably add all kinds of things to it - meaning, creation, challenges, ownership, identity, pride, etc.
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