Busy people all make the same mistake: they assume they are short on time, which of course, they are. But time is not their only scarce resource. They are also short on bandwidth. By bandwidth I mean basic cognitive resources - psychologists call them working memory and executive control - that we use in nearly every activity.
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Sendhil Mullainathan:
Time can be dissected easily: an hour can be cut up in many ways. Fifteen minutes on this memo, a fSendhil Mullainathan:
Maybe poverty is a special case of something else. That something else is 'scarcity,' and anyone whSendhil Mullainathan:
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The ability to save automatically is among the most powerful tools available to us.Sendhil Mullainathan:
It is safe to say that when people are short on cash, they might be less productive at work, be worSendhil Mullainathan:
Economists specialize in pointing out unpleasant trade-offs - a skill that is on full display in th