I walked into my very first Economics class, and written on the board was the following:
“Economics is the study of allocating scarce resources among infinite wants and desires.”
Infinite wants and desires is definitely the kind of vague, unrealistic statement an Economist would come up with. Surely there’s an end to what we really want in life: happiness, friends, family, and an extra slice of pie every once in a while. Traditional economics only works if the statement is true. In fact, most economic research hinges on the assumption, that of scarce resources being divvied out among infinite wants and desires, being true. Then again, of all fields of study, economics would be the one to mess things up so badly on day one.
This week, I’d like to discuss a topic that’s near and dear to my clients and students: why some people take action and others don’t.
We all have dreams and goals, right? We want to lose weight, become better partners and parents, be happier, travel more, save money, maybe even start a business. But for some reason, many of us fall short and don’t take action on these dreams and goals.
Have you ever found yourself with so many things you want to accomplish? Then you have to figure out how to get started to get those things done. I want to share with you something I noticed recently that affected many other things. It felt like I was accomplishing many things just by focusing on one.
We recently took a road trip and along the way it was my turn to drive. I was sitting at the steering wheel thinking about how long the trip was and getting frustrated. I eventually realized that instead of thinking about it in that way, as one BIG goal, I needed to change my mindset.
I thought about breaking it into smaller goals or segments. Since Steve and I usually split it up each of us driving half way, I now only needed to worry about my four hours of driving. And even within that I could think of two, two-hour segments. What a difference that perspective gave instead of dreading the whole trip!
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