Wisdom – Page 8 – Jeremiah Stanghini

How Does “the Economy” Work, Anyway?

This past winter, I wrote a post: “What is ‘the Economy,’ Anyway?” I was growing tired of hearing people talking about “the economy” being bad. Don’t get me wrong, people can talk about whatever they like, but in the context of the economy, I felt that the idea that folks saying it’s bad is a bit of a misnomer. And not because the economy is bad, but because it’s not always clear what someone means when they say that the economy is bad.

A couple of days ago, Ray Dalio, who “lords over the world’s richest hedge fund firm,” came out with a video that explains, ‘how the economy works.’ It’s 30 minutes long, but it’s animated, so hopefully it can keep your attention for the whole thing. Also, given what appears to be its intent (inform average citizens about how the economy works), it certainly seems easy to understand. Even if you don’t have a basic understanding of some economic terminology (assets, liabilities, productivity, cycles, recession, etc.), you’ll probably still be able to understand what Dalio’s saying.

Usually, I’d say, ‘if you have the time, you’ll want to see this.’ In this case, I’d advise you make time to watch this video. Even if you think that there’s some ulterior motive from Dalio, the basic information he’s offering about how the economy works is quite compelling. His reputation precedes him. As Steven Perlberg from Business Insider wrote, “when the man talks about markets, people usually listen.”

Dalio in his own words:

The economy works like a simple machine.

But many people don’t understand it— or they don’t agree on how it works — and this has led to a lot of needless economic suffering.

I feel a deep sense of responsibility to share my simple but practical economic template. Though it’s unconventional, it has helped me to anticipate and sidestep the global financial crisis, and has worked well for me for over 30 years.

An Often Overlooked Component of Job Searching: Finding The Right Fit

When you’re out of work, finding a job can be tough. After you’ve mined your network, attended numerous job fairs, and applied to countless jobs online, there’s a good chance that you’re starting to lose hope. Well, I’m here to tell you, don’t. Don’t give up. Don’t lose hope.

Believe it or not, finding a job is not just about you. It’s as much about the jobs that are available as the skills you have to offer. Meaning, you might have just the right skills to be a network developer for a technology company, but if the technology company that you’re looking at doesn’t have any openings, then you may begin to question your abilities and skills as a network developer. You may begin to think that you might not be as good at what you do as you thought you were. The key part of that equation is that the technology company that you’re targeting doesn’t have an opening… but another technology company might.

If you’d like a more concrete example, we can look to professional sports. Since I was born and raised in Toronto, I’m a fan of the Toronto Maple Leafs. It’s currently the preseason, so there are more players “on the team” than there will be in a couple of weeks when the season starts. That is, there are a number of players who are still “trying out” for the team. One of the players who is currently trying out with the Maple Leafs is Mason Raymond, who played with the Vancouver Canucks for the last six seasons.

At the end of last season, the Canucks chose not to re-sign Raymond. As a result, Raymond was able to sign with any team. To start the preseason, Raymond decided to tryout for the Maple Leafs. Given his skill, he likely could have tried out for a number of different NHL teams, but he chose the Leafs. Now, some could point to the popularity of the Leafs as a reason that Raymond chose them, but others could point to the current roster for the Leafs. That is, on paper, Raymond certainly seems to fill a role that the Leafs don’t currently have. As a result, Raymond stands a good chance of making the team.

After the first few preseason games, it certainly seems that Raymond is well on his way to making the team, too. In fact, now there may be some concern among the management of the Leafs that Raymond might be signed away by another team (Raymond’s not technically under contract with the Leafs for the season — he’s just trying out).

My point in sharing this story about Mason Raymond is that when the Canucks decided not to re-sign Raymond at the end of last season, it may have been a rather sad day for him. He might have gotten down on himself and thought that his NHL career was over. A few months later and he’s playing great for the Leafs in the preseason, which will (likely) assure him an opportunity, if not on the Leafs, on some other team.

You may feel like you’re down and out right now (like Raymond might have felt after last season), so it’s important to remember: finding a job is as much about finding the right fit as it is about putting yourself out there.

UPDATE: When I wrote this last week, Mason Raymond was still on a tryout with the Maple Leafs. This past Monday, he signed a 1-year contract. It just goes to show how important finding the right fit can be.

If You Want Something, You’ve Got to Reach Out and Take It

Several months ago when I was still a student at George Mason, I was sitting in one of the coffeehouses on campus. Well, actually, it was the Starbucks. I differentiate Starbucks from coffeehouses because I know that some folks don’t necessarily see Starbucks as a coffeehouse anymore. Nonetheless, I was sitting in Starbucks, probably writing a post. In fact, I think it may have even been a Monday and I was working on a post for the list of biases in judgment and decision-making. Anyway, not entirely relevant.

As I was sitting there, I noticed a stranger ask a table of two if he could use one of their computers to charge his phone (they didn’t have their computers out). Invariably, I knew he was going to make his way to me and ask if he could use my laptop to charge his phone (he happened to have his USB charger, but not a charger that plugged into the wall). When both of the girls declined and he turned to me to ask if I’d be okay with it, thoughts of espionage raced through my mind. I think this was about the time that I had just spend a weekend watching a number of episodes from Alias, so “spy-stuff” was on my mind. Eventually, I caved and let him use my laptop to charge his phone.

As his phone was charging and he was waiting for his ride to arrive, we chatted briefly. I don’t remember how we got onto the subject of politics, but we did. He told me that he’d written a couple of books of poetry and sent them to the White House — to President Barack Obama. He also had written one to former President Clinton. I was quite shocked that he had been so bold as to send books of poetry to the 44th and the 42nd presidents of the United States. In fact, he even gave me a signed copy of the one he sent to Pres. Obama. More than that, he received responses from both of the presidents. In an updated edition of the book he sent to Pres. Obama, he had a picture of the letter he received from Pres. Obama.

Shortly after this, our conversation ended as his ride arrived. When he left, I got to thinking about the gusto it might have taken to drum up the courage to write a book of poetry and send it off to the President of the United States. Many of us may balk in anxiety at the kind of response we might get (if we even get a response!). Paralyzed by fear, we fail to reach for our dreams. If you want something, you’ve got to reach out and take it. This is exactly what this gentleman was doing. He wanted to write something for the President and he did — and he sent it to him!

I bet there’s something in your life that you’ve been putting on hold. Something that you’ve thought, ‘Oh well, I’ll do that later,’ or ‘I’ll wait to do that until I’m ready.’ I contend that TODAY is that day. Today, you are ready to do the thing you’ve been waiting to do. Don’t wait for your future. Reach out and seize it – today!

More Scientific Evidence That Beliefs Affect Biology

If you’ve been following me since I started writing on the internet a couple of years ago, you know that I have a certain soft spot for the power of belief (sampling: here, here, here, and here). I understand that many folks are still leery of that phrase, but when you couch it in the context of the “placebo effect,” it’s amazing how many people begin to accept it as a thing.

Depending upon your philosophical bent, you may believe that willpower is a depletable resource. You certainly wouldn’t be alone in that thought, as President Obama seems to subscribe to this point of view. There are also those who believe that willpower is not a limited resource. So, which one is it? A simple question without a simple answer. It’s important to remember that depending upon from which point we begin, we may be less inclined to believe the other side of the story (remember the confirmation bias?) As much as possible, it’s important to try to take in new information with an open mind. With that being said, (regardless of where you stand), try to examine the following study with an objective and critical eye.

…following a demanding task, only people who view willpower as limited and easily depleted (a limited resource theory) exhibited improved self-control after sugar consumption. In contrast, people who view willpower as plentiful (a nonlimited resource theory) showed no benefits from glucose—they exhibited high levels of self-control performance with or without sugar boosts. Additionally, creating beliefs about glucose ingestion (experiment 3) did not have the same effect as ingesting glucose for those with a limited resource theory.

When I read this, my first thought was, as the title suggests, more evidence that our beliefs can affect our biology (see: Biology of Belief). Of course, I understand if some folks have a hard time jumping on board with this, so, like I said, couching it in the language of the “placebo effect” seems to make it more palatable.

After reading this, I’d encourage you to follow-through with application. That is, now that you have this knowledge, apply it to your own life. Test it out. See what works for you. Maybe you used to believe that willpower was a limited resource, but after reading this, think the opposite. It’s certainly worth taking a chance, right?

The Most Effective Form of Discipline: Punishment or Empathy?

Have you ever broken the rules? If you’re answering honestly, no doubt, your answer should almost certainly be yes. If you drive, you’ve probably rolled a stop sign once or twice in your life. Or, you’ve probably at least barely gone over the speed limit, even if you were trying to maintain a speed below the limit. There’s always jaywalking. That is, you’ve probably crossed the street when you weren’t in the crosswalk when the walk sign was on the cross. What about taking office supplies from work? You may feel justified in doing so, but I bet if you read your contract or the rules/regulations of your organization, it’s not something that’s endorsed. There are probably plenty of other examples where you’ve broken a rule (accidentally or intentionally!), but there may only be a few (one?) where you’ve had an experience that changed your life.

I don’t necessarily mean that it changed your life in some profound way (although it may have). I’m speaking more towards those experiences that you’ll always remember. The lesson(s) you learned from the experience(s) was/were just what you needed at the time. Do you have one of those experiences? Now that you’re thinking of that experience, I wonder: did you receive a punishment for breaking the rules or did you get off with a warning?

I’d hazard a guess that if I polled those of you reading this article, the majority of you would say that the experience where you were left off with a warning was the one that stuck with you. And why is this? Empathy. Compassion. Kindness.

These are human expressions that tend to touch us in ways that the antithesis of these expressions don’t. It’s a tired sentiment, but the news is filled with negativity. As a result, experiences that show us the opposite of this negativity tend to shock us. This surprise tends to stick with us and the experience can teach us something we weren’t expecting.

I’d like to share an example that I think accentuates my point. I came across an answer on Quora to a question asking about people’s best experiences with police. This particular answerer, Andrew Bosworth, was 16 years old and on his way home from Sacramento to the Bay Area. He was really tired and knew he was driving somewhat erratically. He’d glance down at the odometer and he’d be just as likely to be going 20 mph over the speed limit as he would be going 20 mph under the speed limit. Eventually, he was pulled over by the California Highway Patrol:

Instead of giving me a ticket, he pointed down the offramp to a place I could get some coffee and rest. He asked if I had enough money to get some coffee and offered to give me some if I didn’t. He said if I really couldn’t get back to an alert state that I should call a friend or my parents and get a ride because what I was doing wasn’t safe for myself or other drivers.

Honestly, I can’t imagine that getting a ticket would have had nearly as big an impact on my driving as the short, compassionate conversation that officer had with me that night.

While there are certainly times where some form of punishment may be more appropriate, I’d like to believe that in many cases, compassion and empathy can be just as, if not more, effective.

Wanna Be More Productive? Kick Off Your Shoes

When I was an undergraduate, I was fortunate enough to be elected student body president. One of the perks to this position was that I had my own office. For a young twentysomething, this was pretty cool. As I had private office, I would often take off my shoes when I was working. It wasn’t that I had uncomfortable shoes, I just felt more comfortable when I wasn’t wearing them. Knowing that some people are uncomfortable with barefooted-ness, I kept a pair of moccasins close by that I could slip on when I went out into the main part of our office. Many of my colleagues teased me for taking off my shoes, but when I’d walk by the tables in the main office, I’d often see one or two people who’d also removed their shoes.

Since graduating, I’ve lived in a couple of places where barefooted-ness isn’t uncommon. For instance, in New Zealand, it’s not unusual to see people walking down the street or through the supermarket (!) barefoot. Even in the United States, albeit not the continental United States, it’s not abnormal to see people walking around barefoot in public. A couple of years ago, Jennifer Aniston was caught walking around in public without any shoes in Hawaii.

Walking around in public without any shoes is slightly different from walking around an office without any shoes. Many people walk around in public in their pajamas, but you most certainly wouldn’t head to the office in your pajamas — unless, of course, it’s national wear your pajamas to work day. But maybe shoelessness isn’t such a bad idea.

There was a biology professor in Virginia who shed his shoes in the classroom for a little while. The university allowed this while he was promoting his book, The Barefoot Book: 50 Great Reasons to Kick Off Your Shoes, but after a period of time, he was then required to put his shoes back on when he was in the classroom. The professor frequents restaurants without any shoes. ‘Isn’t this a health code violation?’ You might ask. As a matter of fact, it isn’t. The professor keeps a letter with him from the Virginia state health department attesting that it’s not. As you’d imagine, restaurant owners are none too pleased.

As the stereotype goes, professors can be a bit quirky, so you still might think nothing of this. What if I told you that the Deputy Prime Minister of the United Kingdom (!) has admitted to walking around the office barefoot? This year! As it turns out, a majority of people would be okay with this. According to a survey conducted last year by Adecco, a human resources consulting company, only 43% of people said they’d be offended if people took their shoes off in their workspace.

Can going barefoot actually make you more productive?

It’s no secret that stress is a major inhibitor when it comes to productivity. So, it follows that anything you can do to reduce stress in the workplace should help you be more productive.

Dr. Dieter Breithecker, who is currently the head of Germany’s Federal Institute for Posture and Mobilisation Support and a member of the International Ergonomics Association, says, “Putting the soles of your feet in contact with all the normal sensations helps to relieve internal tension and reduce stress. Shoes, on the other hand, prevent direct contact with the ground and so adversely affect the health of our feet, balance and posture.”

Not only could your shoes be inhibiting your productivity, but there’s a good chance that they might be affecting other aspects of your health like your posture.

It’s been quite a few years since I walked around barefoot in the office as the student body president. As the person ‘in charge,’ it was a little easier to get away with it and not upset too many people. In the years since, as long as I’ve had a private office, you could be sure that my feet were free, while my shoes remained tucked away in the corner. And for those times I needed to venture out of the office, I’d have to decide what the situation required. On some occasions, it’s important to be wearing formal shoes, but for those times it’s not, you’ll almost certainly catch me wearing a pair of Vibram FiveFingers Bormios.

How Trusting Your Gut Can Save You From Sizable Stress

I mentioned recently that I’m in the process of moving back to Canada. If you’ve ever moved, you know that there are certainly lots of things that you have to do when it comes time to start packing the truck. More than that, there are even more things you have to consider when you’re moving to a different country. Granted, some might say that Canada isn’t all that different from the USA, but it is still technically a different country, so that means that there is likely to be paperwork you wouldn’t have had to deal with, had you just been moving to a different part of the country or across town.

On the day of the move (packing the moving truck and leaving the apartment for the last time), I had a couple of library books that had to be returned. Now, I knew I’d be coming back to the area in a couple of months and I knew that these books wouldn’t be due until after I made my trip back to the area, but I just had this feeling that I should return the books on the day of the move. It wasn’t entirely rational, especially given that there were so many other move-related things I could have been doing.

When I get to the library, I hand my books over to the person behind the desk and I start to turn to leave. Just as I do that, I get the sense that I might as well make sure that there’s nothing else showing that I owe on my account. She asks for my library card and then checks the system. Yes, you seem to still have The Power of Habit and What Money Can’t Buy checked out.

I was so confused because I had returned these books about a week earlier when I picked up the two books that I was returning today. She said that it was showing in their system that I still had them checked out, so I explained to her how that wasn’t possible given that I returned them the day that I picked up the books I was returning today. She said that maybe they were still in the back and hadn’t been taken off of my account, so she went to go look.

They weren’t there.

When she came back, I kind of started to panic a little bit. I realize now that having to pay for this library book wouldn’t have been that great of a hassle, but when all your mind is thinking about is packing a 26′ moving truck in a few hours…

Then she said that maybe the books were on the shelf. On the shelf!? I thought. How could they be on the shelf and not shown as returned on my account. She said that it happens sometimes, so her and I went to check the shelves.

Sure enough, that’s where the books were. On the shelf.

As we were riding back down in the elevator, I asked her what would have happened had I not come in today and got this taken care of before I left town. She told me that they probably would have charged my account. To which I said, even though the books were on the shelves? She replied: “Yup!”

I certainly understand the importance of biases in decision-making, but that doesn’t mean that I’ll completely ignore a gut feeling. Sometimes, a gut feeling is so strong that we can’t help but check-in and see what’s going on. I’ve had experiences like this before, so I knew well enough when I was getting this kind of a response from my gut, I needed to follow-through with it. I encourage you to do the same, but don’t take it lightly. It’s important to learn the difference between hunger pangs and a gut feeling. It takes time, so don’t be so hard on yourself if it doesn’t come to you right away.

Mistakes are Always Forgivable, if One Has the Courage to Admit Them

Earlier this summer, I wrote a post about the 2022 World Cup. Qatar was awarded the 2022 World Cup in December of 2010 at a meeting in Zürich. Usually, facts like the time of year and the place a decision happened are inconsequential. However, from what we know about decision-making, it’s possible that these small factors may have contributed to a country in the Middle East being awarded an event that takes place in the summer.

A couple of days ago, the FIFA President, Sepp Blatter, admitted that they ‘may [have] made a mistake at the time.’

While it would have been easier had FIFA not make this mistake 3 years ago, I’m glad that they’ve admitted to it now. It gives them lots of time to try to come to some agreement with some of the soccer leagues who aren’t receptive to the idea of interrupting their season. If you’re not familiar with soccer, the Premier League‘s season takes place in the winter months (the Northern hemisphere’s winter months, I should say). The World Cup usually takes place in the summer (again, Northern hemisphere’s summer months), so that the Premier League’s season can finish. As I discussed in my post in July, there are all sorts of contracts that the Premier League will probably be hard-pressed to try and break. Of course, with the force of FIFA behind it, one would assume that there could be some deal arranged to work this out.

The bit I want to highlight from this piece of news is that the leader (and the organization), didn’t remain steadfast in their wrongness. FIFA could have very well went on believing that playing soccer in 122° weather wouldn’t have that much of an effect on the quality of the competition. They could have continued to look for opinions/facts that confirmed their belief in their rightness.

Let this news be an example to you and your organization: mistakes can be forgivable, so long as you admit to them. If there’s no admission of error, then there’s little room or time for correcting.

Note: The title of this post is a quote from Bruce Lee.

Twenty Online Talks That Will Change Your Life, Part 2

Yesterday, I began going through one of The Guardian’s articles about 20 online talks that could change your life. We got through the first 10 talks yesterday. In this post, we’ll look at the last 10 talks.

11. Shaking Hands With Death – Terry Pratchett

12. The Voices in My Head – Eleanor Longden

If you have no experience with schizophrenia, Longden’s talk will certainly change that. It’s important to note, not everyone comes as ‘far’ as she did. Nonetheless, I hope her story fosters empathy within you.

13. Arithmetic, Population and Energy: Sustainability 101 – Albert Bartlett

I don’t remember when I first saw this lecture from Bartlett, but I know that it was probably one of the first lectures I watched on the internet (maybe 15 years ago?). If you’re captivated by headlines like “Crime Doubles in a Decade,” or you’re confused about inflation then you’ll learn a lot in the first half of the video. As someone who majored (second major) in sociology, I can certainly empathize with the idea of a Malthusian catastrophe. I suppose I’m putting stock in the fact that something will change before it gets to that. You may be tired of hearing that people of time X couldn’t have predicted what life would be like in time Y, but I’d say that this is a big factor in why I think we’re not hurtling toward the future that Bartlett explains. Of course, I could be wrong, but I really think that something will change before it comes to this.

14. The Coming Collapse of the Middle Class – Elizabeth Warren

15. The Secret Powers of Time – Philip Zimbardo

If you’ve ever taken PSYC 100, there’s a good chance you’ve heard of Zimbardo. If the name doesn’t sound familiar, his famous experiment will: the Stanford Prison Experiment. I remember watching the RSA Animate version of this talk a couple of years ago. Zimbardo shines a light where you might not have been looking: your relationship to time.

16. The secret to desire in a long-term relationship – Esther Perel

17. Printing a human kidney – Anthony Atala

In 2011 when this talk was given, the idea of 3D printing was brand new. To some, it may still be. I remember talking about it last year in the context of rapid technological change. If you’re still fuzzy on 3D printing, this is an enlightening place to start.

18. Do schools kill creativity? – Ken Robinson

If you’ve ever watched a TEDTalk, there’s a good chance you’ve heard of this one from Ken Robinson. As of this time last year, it was the most watched TEDTalk – ever – with almost 15,000,000 views. If you haven’t seen this one, spend the next 20 minutes doing just that.

19. Sugar: The Bitter Truth – Robert Lustig

20. Moral behavior in animals – Frans de Waal

If you liked this paper/series, you might want to check out some of the other papers/series I’ve posted.

Twenty Online Talks That Will Change Your Life, Part 1

A little over a week ago, I wrote a post about the 20 biggest questions in science. It turns out, The Guardian must have been on a listicle-kick because they also recently published a list of the 20 online talks that could change your life. Some of these I’ve seen, so I thought I’d go through them in the same way I did for the science questions from last week.

1. How Economic Inequality Harms Societies – Richard Wilkinson

I was so glad to see that they started with this talk. This talk is by a British researcher who has dedicated his life’s work to social inequalities. Along with Kate Pickett, he published a book called The Spirit Level. I remember reading it a few years back. It’s chock-full of resources and citations that formed the basis for the beginning of the recent discussion on inequality. Of course, there are folks who don’t see eye-to-eye with Wilkinson and Pickett.

2. Your Body Language Shapes Who You Are – Amy Cuddy

3. Violence Against Women – it’s a Men’s Issue – Jackson Katz

I haven’t seen Cuddy’s talk, but I’ve read a number of her journal article. She certainly knows what she’s talking about and is worth your time. I haven’t seen Katz’s talk either, but it really reminds me of the work of Miss Representation and The Mask You Live In.

4. Depression in the US – Robert Sapolsky

5. Listening to Shame – Brené Brown

6. Why I Am Not a Christian – Bertrand Russell

7. We Need to Talk About an Injustice – Bryan Stevenson

If you haven’t seen Stevenson’s talk, now’s a good time to do it.

8. The Art of Asking – Amanda Palmer

Not many TEDTalks have caused such a ruckus so quickly. I remember when this talk first happened earlier this year and was put online. Here were my “quick thoughts” after first watching it:

Amanda Palmer: A big congratulations! This TEDTalk certainly created news yesterday. For some, it’s because she didn’t answer questions that some had asked regarding the Kickstarter funds, for others, because she raised some important ideas about the music business. It’s certainly not easy to challenge mainstream ideas and even harder to do so with so many people who think you’re wrong (and are shouting that at you).

The Art of Asking: For some, there is nothing harder than asking for help. Asking for what you’re worth. People who are just starting their own business often have lots of problems trying to figure out just how much they should charge. Much of this has to do with psychology and our ideas of self-worth, but there’s also the cultural stereotype that it’s not okay to ask. It’s so great that Amanda could demonstrate how asking is not something to be afraid of.

Vulnerability: On the topic of asking… I remember reading about people who pose as beggars — not for the money, but to gain the experience of what it’s like to beg or ask for money. It’s not something that I’ve done, but after watching this TEDTalk, it’s an experience that I think is certainly worth considering. It might shatter stereotypes of what it’s like to ask for help and would certainly foster a greater sense of empathy.

Trust: Without getting too much into a philosophical discussion, it’s great to see a tangible example of someone who “trusts the flow of life,” and is rewarded for it.

As with Stevenson’s, if you have the time, Palmer’s is certainly a talk worth watching.

9. The Myth of the Gay Agenda – LZ Granderson

10. Brilliant designs to fit more people in every city – Kent Larson

After reading the description for Larson’s talk, I couldn’t help but think that the work of Richard Florida, noted urban theorist, is probably mentioned in the talk.

We’ve covered the first ten talks. This seems like a good place to pause and take a break. Check back tomorrow for the rest of the talks.