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The things we do: The logic behind instant gratification

Roxanne Bauer's picture

Learning to give preference to long-term goals over more immediate ones is known as deferred gratification or patience and considered a virtue in many cultures.  However, there is logic behind asking for rewards immediately, and those who live in poverty know this all too well.

A woman tries to decideThe comedian Jerry Seinfeld, once joked “I never get enough sleep. I stay up late at night because I’m ‘night guy’. ‘Night guy’ wants to stay up late. ‘What about getting up after five hours of sleep?’ ‘Oh, that’s morning guy’s problem. That’s not my problem—I’m night guy! I stay up as late as I want.’

Such decisions are described by the theory of intertemporal choice, the idea that decisions have consequences that come at different points in time. People weigh the relative trade-offs of getting what they want in the immediate future with the trouble associated with waiting but potentially getting something better.

We all face these kinds of decisions in our day-to-day lives, from deciding to work now or later or save or spend money, to whether or not we should stay up late to enjoy the night or go to bed early to feel better the next day. In each of these cases, a decision maker needs to assess the utility (or value) of one outcome that is will occur sooner with another one that is more distant in the future. 
 

Weekly Wire: The Global Forum

Roxanne Bauer's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

Mapping Digital Media: Global Findings
Open Society Foundation
Is a world where there are almost as many mobile phones as people, more than half the globe can access digital TV signals, and almost 3 billion people are online a better place for journalism?  The Global Findings of the Mapping Digital Media project assess these and other forces affecting digital media and independent journalism worldwide. Researched and written by a team of local experts, the 56 country reports, from which these Global Findings are drawn, examine the communication and media environments in 15 of the world’s 20 most populous countries, covering more than 4.5 billion of the world’s population, and in 16 of the world’s 20 largest economies.
 
Global Inequality: What to Address?
Huffington Post
We normally would not expect a seven-hundred-page scholarly tomb full of numbers and figures written by an academic to become an international bestseller. The success of Capital in the Twenty-First Century by Thomas Piketty indicates that the public discontent caused by the rising inequality in the modern capitalist societies may have reached a boiling point. The debate surrounding Capital has been intensely polarizing, inciting passionate responses from the intelligentsia of both the Left and the Right.