Money psychologist Videos

+Mike Kellett Thank you for your thoughtful and insightful reply to mycomments.  You leave no doubt as to who deservesthe moniker of “idiot”.

+Erick Taylor Oh, you are just an idiot. Ok. Thanks for clarifying.

The whole premise behind this video is flawed from the get go, as it conflates the Free Enterprise System with “Capitalism”.  Adam Smith’s “free market” was one of thousands of providers of goods and service competing with each other without the undue influence of capital; it is about people serving each other, guided by self interest not “greed”; “as if by an invisible hand” satisfying the needs of the market (meaning the participants).  Believing that financial markets are “free” or “rational” is silly on its face.  Instead of the “invisible hand” it is about “slight of hand”, it’s about misdirection.  Financial instruments for the most part are imaginary construct and have no real value; like the Tulips during the price Bubble in Holland of 1637, their true value is elusive.

+Mike Kellett Look, the main problem with this example of “present bias” is that it is flawed.  The question of waiting a day clearly implies that one must return to the place of meeting the next day, in order to receive the extra two dollars.  Would you return the next day for two dollars?   I would not even meet him there in the first place for two dollars.  If it were suggested that I could get $100 today, but if I wait until tomorrow he’d deposit $102 in my account, I’m reasonably sure that I would take that offer, providing I trusted the person making the offer, unless, of course, I desperately needed the money today.  .It’s relative.The other glaring problem with the video for me as a viewer, is that the producer staged the scene in a biased venue, a shopping center with people actively engaged in shopping, almost assuring there would be a display of “present bias”; I’m not so sure the decisions by the shoppers in that case are “irrational”, as extending their pleasure of shopping does have a value.   Again it’s relative.

+Erick Taylor Are you not perfectly defining the present bias?

+Erick Taylor That wasn't the proposed scenario...

300,000 $ per year? or month?

@jaywantv a year

cool

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ok this is typical but you're wrong you know why ? because the same thing you cand do with gold and silver and everything else always in whole universe , it's not the money it's the way it's used and what is done with it

The root of evil is the love of money. Money is a tool it can be used to help or to hurt. Judge not least ye be judged.

Someone's a Jesus freak. I hope there is no afterlife just so you end up wasting your time xD

money is an energy you can use that for good or for bad the pends who you are

OMG,5 people thatght that the dislike button is the download button:(!

this is advice not meditation

how much money have you made?

thank you very much

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Ell

Qualification doesn't necessarily determine whether the information is correct or not.