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Friday, April 26, 2013

26 April 2013

"When you're at a dinner party...sometimes you just want to stand in the corner and stare out the window, alone with your thoughts. The problem is, when you're not allowed to smoke, if you stand and stare out the window on your own, you're an antisocial, friendless idiot. But if you stand and stare out the window on your own with a cigarette, you're a fucking philosopher."
Can perception be the key to a more logistically sound future? Or to a more qualitative approach to economics? Or even happiness?
According to Rory Sutherland, "the power of reframing things cannot be overstated." Can we become happier by simply becoming relatively happier? After all, what is wealth but a concept relative to our neighbours?

Today's edition of Filosophy Fridays introduces audiences to the notion that 'Perspective is Everything' in a TEDxAthens edition of the popular think-tank.
He provides a few examples:

  1. In classic economics, richer seems to be happier. Let us compare two demographics of equal time-to-wealth ratios; pensioners and unemployed youth. Pensioners have been shown to be far happier than their socio-economic reciprocals.
    Why? Well, pensioners have decided to be in their position, they have control over their lifestyle. This isn't the case for the unemployed, as they are out of control - rudderless in a bad economy.

  2. One of the best examples provided was Eurostar's recent investment in the London to Paris train service. They had invested $6 bilion to cut the travel time by 40 minutes.
    Sutherland notes that for 0.01% of that price, they could have put WiFi on the trains, making the ride more enjoyable, even productive. For a few million, they could have celebrities or models attending to patrons. In that case, the 40 minute loss would be tolerated, even welcomed!

  3. In South Korea, they have experimented with a timer on red lights, giving the driver an indication of how long they have left to wait. This has resulted in a significant drop in traffic accidents due to a parallel drop in road rage (the latter can obviously not be statistically backed).
    The rationale is there!
So could perception really be the key to a logistical haven, a happier populace and a psychologically sound approach to economics?
Definitely food for thought.

Watch this 18 minute talk and feel much the wiser for doing so. Another day, another cognitive exercise on The Daily Quota.


WATCH IT HERE

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