Interesting Questions.

Below are some interesting questions culled from The Economist that might cause a general debate.

Question: Dear Economist: Is the lottery the best bet for my pay-off?

Thanks to the recession kindly engineered by financial whiz-kids, I find myself jobless with large debts and a house that is worth less than the mortgage. I have some redundancy money. What am I supposed to do with it? It’s not enough to pay off my debts. Financial disaster seems very likely, so why shouldn’t I just spend the windfall on lottery tickets?
J.P., via e-mail

Answer: Dear J.P.,
I’m not going to argue with you about the expected returns on lottery tickets; you’ll know that your chances of winning anything worthwhile are near zero. Let me make a more striking claim: even if you won, it would be unlikely to save you from financial trouble.

The economists Scott Hankins, Mark Hoekstra and Paige Marta Skiba are in the process of investigating that claim, looking at 35,000 winners of the Florida lottery, almost 2,000 of whom later filed for bankruptcy. The researchers find that lottery winners are more likely to go bankrupt than others – which is not surprising, since many of them don’t win much, and lottery enthusiasts tend to be poor.

More surprising is the discovery that those who won between $50,000 and $150,000 were as likely to have gone bankrupt five years later as those who won less than $10,000. Since the size of a win is random, there should have been no difference between big winners and small winners at the time they bought their ticket. It is remarkable that the additional money was not used to pay off debts.

Admittedly, winning $100,000 did seem to postpone bankruptcy by a year or two, so presumably these winners had a nice time on their way to ruin. Yet this is not an approach I feel able to recommend. Finding a job would go a long way to solving your problems. I won’t pretend that will be easy, but the odds are better than those of winning the lottery.


Question: Dear Economist: Should I stand by my chauvinistic man

I am an economist, as is my boyfriend. We started dating as students, but after four years we broke up for a couple of months because of differences in our ways of thinking. We always supported each other professionally, but things changed. I got a job in a multinational organisation, but he didn’t like me travelling, going out for business dinners, or even spending time at the office.

His father was head of the family, while his mother stayed at home; both my parents worked. (We live in Paraguay, which is quite chauvinistic.) Probably, he thinks women have to stay at home, yet he fell in love with me because of my aspirations. I’ve said that maybe he needs to marry a woman who wants to be a housewife. I gave him another chance, as I love him. Should I be patient?
L.E.

Answer: Dear L.E.,

The economist Betsey Stevenson has discovered that in US states that liberalised divorce laws, couples became less willing to support each other through expensive courses. That makes sense: easy divorce raised the spectre of being dumped once hubby had spent your money and acquired his law degree.

Your own situation is the reverse. Your boyfriend supported you while you built up your human capital, but now spurns the payoff. You are right to be suspicious, I think. Your boyfriend wrongly thought that you would change; you face a similar disappointment.

There is another, more calculating, explanation. Roland Fryer, an economist fascinated by the causes of African-American under-achievement, theorises that some people find professional qualifications disturbing because they allow a credible exit from any relationship. You’ve given yourself that option; your boyfriend has given you reason to use it.


Question: Dear Economist: Has my neighbour confused me with God?

When my neighbour was desperately searching for staff to run her guesthouse, I, after due deliberation about whether to get involved and much trouble, eventually found her a married couple who complied with all her demands. She now thanks God for bringing them to her.
Do you think she’s confusing me with God? If so, should I gently remind her that I’m a simple earthly being and such high praise is making me feel a little uncomfortable? I would prefer you not to use my real name; I don’t want any more people contacting me in search of miracles. In any case, my husband thinks this business has gone to my head.
Mrs S., South Africa

Answer:
Dear Mrs S.

I would say that a more likely explanation of your neighbour’s actions is that she is trying to ingratiate herself with God, not you. I can imagine how aggravating this is for you, given the trouble you’ve gone to, but this attitude makes sense if God is subject to flattery. God is, after all, omnipotent, so it must be better to have God on your side than plain Mrs S.

The question is, does God pay attention to supplicants? No less an authority than Nobel laureate James Heckman has investigated the answer using highly fashionable statistical techniques. (Some claim that Heckman’s paper is a parody of sloppy statistical practice. I couldn’t possibly comment.)

Heckman observes that “the empirical conclusion from this analysis is important. A little prayer does no good and may make things worse. Much prayer helps a lot.” This is fascinating, suggesting that sit-on-the-fence agnostics are choosing a very foolish approach. Your neighbour has taken this lesson to heart: given the importance of extremely fervent prayer, small wonder that she is giving God all the credit for your hard work.

How Impatience Works Against You

How Impatience Works Against You
When you’re impatient - when you don’t trust and accept that things will work out - you actually get slowed down, distracted or end up on the wrong track - then you wonder: “How did I get here?” Here’s an example: suppose you’re in line waiting to pay for something - and it’s a rather long line but there’s another cashier with an equally long line. If you huff and get angry - it won’t change anything. If you jump to the other line - it may actually take longer (I’m sure many of you have had this happen), if you leave - you quit and don’t get what you want. Sometimes you’ll leave saying you’ll come back when the line is shorter - but most people rarely go back. So by being impatient you either got angry, thought the grass was greener on the other side - but actually waited longer or you quit and never got what you wanted. Had you been patient, chances are you would have made your payment and moved on. I know some of you will say: “Yeah but what happens when the other line does move faster - I’m not going to stay where I am.” Of course you won’t then move along - my point is - don’t assume that the grass is greener on the other side - deal with what you have and what you know - be patient and you’ll make the right decision.
Now let’s take a look at something that is a little more serious - and this is something I hear a lot about. Let’s say you want to increase your finances and you want to make a million dollars - I have a lot of people call me and tell me that they want to make a million dollars right away - say within 3 months. I then tell them that while anything is possible - it’s unlikely to happen. Some get angry and hang up - I guess I didn’t tell them what they wanted to hear and they didn’t get the quick fix that they were looking for. But here’s why it’s unlikely to happen in 3 months. There is a process that needs to take place. Just like that seed can’t grow above the ground in 3-days - that seed has to go through its natural process. So do you - and part of that process is growing. If you want to make a million dollars - you could look for that quick fix, make risky investments, try different schemes, gamble, buy lottery tickets - but you would likely lose more money in the process. Or you could start laying a foundation to make a million dollars - you could start building a business and increase your revenue year over year. You could start with more solid investments - and build on them year over year. You could come up with a solid financial plan and build on it year over year. This notion of getting things right away ignores the process of nature, eliminates the power of patience and will just set you back further.
Unfortunately in today’s society we want instant satisfaction. We want something that will fix everything right away. We want a pill that will cure everything. We want our food ready in an instant. But nature doesn’t work instantly and we are creatures of nature - we are part of nature. We operate on the same schedule, the same platform. We start off as infants, grow to adults, age and pass on. Just like aspects of nature.
Success in life doesn’t happen overnight. Creating a business and making it a success requires patience. Having impatience in business is inviting disaster. Relationships take time to build and improve - having impatience in a relationship is a sure way to end it. Finding the right job requires patience and effort, having impatience in a job search is a sure way to get rejected.
In all of the above examples and other aspects of life things can happen in an instant - but your success in them will require patience. For example: You may meet a partner tomorrow - but the success of that relationship will require patience - so that it has the time to grow and succeed. You could come up with a business idea tomorrow - but its success will require patience. You could find a job tomorrow - but your success at it will depend on how patient you are not only on the job - but also with co-workers and bosses.
If you want balance and harmony, if you want success and happiness - you have to do all that you can and then utilize the power of patience.
The Creating Power System shows you how to get started on the road to success and happiness by getting you to lay that foundation, plant your seeds for success - and then how to utilize the power of patience. Creating Power is the complete course that shows how to send the right messages to your subconscious - so you make the right decisions and accomplish your goals.

How Patience Pays Off
I can best illustrate how the power of patience brings enormous rewards with an example of Peter - and old friend of mine who has had a very successful career and rewarding life.
10 years ago Peter and another friend Desmond, started working at the same company - both had similar entry-level position and both had great ambitions. Peter was always the more patient laid back type - whereas Desmond was on the hyper side - always itching to get something done, showing little patience and always wanting to move up in the company quickly. After a year on the job Desmond was already looking to move on and find something new. He demanded a higher salary or a promotion - threatening to leave. A few months later he left the company and tried to talk Peter into doing the same thing. Peter - chose to stay. Desmond went from job to job - always looking for something better. The longest he ever stayed at a job has been 2 years. When I last spoke to him a few weeks ago - he was out of work and looking again. He said his name had been tarnished because he had gone through so many companies in such a short period of time. “I guess they just don’t want somebody who has no patience with management.” He explained when we had lunch. I thought it was fascinating - his impatience had actually worked against him.
Peter is still with that same company and is now a Senior Manager in line to be Vice President of his own division within a few years. His salary has tripled and he has the seniority and respect of his superiors. “I guess they just like the fact that I’ve stayed and put up with them. It has its up and downs - but I try to focus on the good and hope my patience will pay off.” I recall Peter saying when I spoke to him just before writing this newsletter.
The power of patience is incredible - you have no idea how many good things can happen to those who practice patience. I’m not asking you to sit around and wait for things to happen. Peter didn’t do that and I don’t practice that. By patience I mean develop an understanding that things take time to happen - that you do the work and you reap the benefits when the time is right.
If you plant a seed and stand over it waiting for it to sprout through the ground - you’d go crazy. If you plant a seed and ignore it - it would die. If you plant a seed and place a rock on top of it - it would never flourish. But if you plant a seed and do the work to help it grow, care for it - it would flourish and thrive.
The same applies in life. Do your work, do the best that you can - be patient and understand that things will fall into place at the right time. If you want a new job - do what you can to find a new job, go out and do the work, but then practice patience - knowing that it will come at the right time. Though some people may say: “I need the job now.” Remember - your impatience will work against you. But if you utilize the powers of your mind and subconscious mind as I outline in my Creating Power system - you’ll be able to attract the right job and the right situation at the right time.
What ever it is you want to happen in your life - it will in time - as long as you work with the power of your mind and subconscious mind. Some of you may say: “I’ve been patient a long time - but nothing has happened.” Have you done everything you can to improve the situation? Have you worked with the powers of your mind and subconscious mind on a regular basis so that you attract the right situation? If not - then ask yourself why not? Why aren’t you giving yourself every opportunity to succeed in life? Why aren’t you developing the power of your mind and subconscious mind? Is wishful thinking getting you any closer to what you want to achieve?
You’ll be on your way to creating a positive thinking pattern that lasts a lifetime the moment you infuse patience into your life.

थे Power of Patience

Power of Patience

Are you among the millions of people who would like to see things happen in an instant? Do you find that you want to get something done, achieve a goal but would like it to happen now - rather than later? Well if you are - then you may actually be doing yourself more harm than good. That’s because in order to excel in life and achieve your goals you need to utilise the power of patience.
Over the weeks/years, more and more seem to be more impatient and what was strikingly interesting was that the more impatient they got - the further away they seemed to push themselves from achieving their goals. We want things yesterday, when we decide we want to achieve something we want it right away, and when we decide we want to change or improve ourselves we too want this to happen right away. But if we look at human beings as part of nature - which is exactly what we are - and if we examine nature carefully you suddenly realize that nature doesn’t create change in an instant.
Ralph Waldo Emerson perhaps said it best in one simple line: “Adopt the pace of nature, her secret is patience” - and that patience can lead to the perfect life - if you understand how to work with it and nature together.


Why Patience Is Critical to Success

Ask any successful businessman or entrepreneur and they’ll tell you that they never rush into a decision. Sure they’ll follow their gut instinct - but they’ll take plenty of time researching, studying and thinking - waiting until the right moment to make a decision.
When you examine nature’s process you find that it works perfectly and has a great deal of patience. For example: you plant a seed, water it, leave it for some time, then at the right time - when all the right elements are in place - that seed turns into a flower, a vegetable or whatever seed you planted. But this only happens when the conditions are right. However, there was work to be done before those elements came into place. The seed had to be planted, it had to be nurtured, it had to be left alone to begin to grow and spring roots under the soil, then at the right time - it began to rise above the surface into exactly what it was meant to be.
Without the prior efforts, without the planting, the watering and the incubation period - the seed could not have sprung above the ground. It would have not been what it is today without all that work.
If you want to achieve success or any goals you set out - you have to practice patience. That doesn’t mean you sit around and wait. No, instead you have to do the work first, lay the foundation, plant the seed, make sure the soil is right - prepare and then wait for all the elements to come into place before making the right decision that will propel you to greater success.
Unfortunately most people don’t practice this process and end up feeling pressed to change things right away.
When you ignore the process of nature - when you forget about the power of patience and instead react to situations looking for the next quick solution - you work against nature and in the end get pushed back further.
If you want to be successful and achieve your goals you have to practice a certain amount of patience.

***To be continued***

Making It Work Long-Distance

Whoever said absence makes the heart grow fonder has probably never been in a long-distance relationship. But while long-distance relationships, or LDRs, get a bad rap, I think there are still plenty of good things about them and ways to make them work.

1. Play together.
So, your beloved is never around to help carry groceries or take you to the movies. But, consider this: Every time you see each other it's like a mini-vacation — a geographic and emotional holiday. "I lived in Seattle, he lived in San Francisco," says Aida,* a 40-year-old writer, who sometimes waited a month and a half between visits with her boyfriend. "We would meet each other on the California-Oregon border — we each had to drive six to seven hours to get there — for a long weekend of camping, hiking, drinking and sex."
But even when you don't travel, you can still keep that vacation glow alive. Jackson West, a San Francisco-based blogger, says when his New York City girlfriend comes to visit, "I love showing her around San Francisco — it feels more like an extended weekend date, or even a trip. We both make a special effort to do interesting things that we probably wouldn't if we'd started seeing each in the same city."
Of course there are limits to how much "vacationing" couples should do. You don't want to cram so much activity into a day that you forget to enjoy some quiet time as a couple — after all, this is a real relationship, not pure fantasy. "After three days and nights of going out, I think both of us start craving a night at home with a pint of ice cream and a good DVD," says West.

2. Manage expectations.
Eleanor Estes, an L.A.-based stylist, found herself in an extreme LDR when her boyfriend moved back to his native Greece. Like Aida, she indulged in the romance of the far-flung affair: "I loved the coming together and then leaving part," Estes confides. "It was always so thrilling."
After four years of doing the long-distance thing, Estes finally picked up and moved to Greece. Problem was, she hadn't sufficiently prepared for the hardship and loneliness of life in a foreign country, away from her friends and family, and without a job. She found herself having to return to the U.S. every three months to renew her tourist visa, which didn't help her already wearisome fish-out-of-water status. "It was difficult because I was moving somewhere where I didn't speak the language and I wasn't allowed to work. It was a new country, an impossible language and I had no friends. I put a lot of pressure on him to help me get those things, but it was too much of a change for me."
In any relationship — and especially LDRs — people can't expect their partners to be their caretakers. If you make a life-changing decision like moving cities to be together, try to establish your own support network as soon as possible, whether that means making a few friends of your own, finding a job or joining a group that shares similar interests. And remember that you each need to maintain your independence and understand that your lives don't revolve solely around one another. Love, companionship and sex should be a given, but you also need to make time for your own interests — and for those of your partner.

3. Talk constantly.
It's hard enough to communicate when you live in the same house, let alone hundreds of miles apart. That's why, despite the distance, faraway couples actually need to communicate more than those who wake up next to each other every day.
Keep up a constant stream of emails and texts, but keep in mind that they're rife with potential for misinterpretation. A dashed-off note mentioning a brilliant new coworker might have been idle chatter for you, but it could throw your partner into paroxysms of jealousy — particularly between couples who miss each other, haven't seen each other in weeks and might be feeling a little insecure. So, that means you have to talk. West says he and his girlfriend communicate through "daily email and text messages, and many phone calls in a week." He often uses instant messaging with friends, but he reserves the phone for his partner: "Why text chat when we can talk on the phone?"

4. Take chances and have faith.
Analisa,* a writer in Rhode Island, has just embarked on an intercontinental coupling with a Parisian illustrator who responded to her profile on an online personals site. "He said he found the French dating sites very depressing, so he was poking around the Anglo sites and saw me," she says. "He said he could tell from what I'd written in my ad that I was a good person, so he sent an email on a whim."
That act of optimism sparked some serious cross-cultural canoodling. The two began corresponding regularly (luckily, Analisa is fluent in French) and decided to meet up in San Francisco, where he was traveling for business. "You never know if chemistry is going to be there when you meet in person, but the rapport we established through our letters translated perfectly," says Analisa.
"I knew the chemistry was there as soon as I met him," she reports, her smitten glow obvious even through a phone line. "It was all warm and fuzzy." The pair spent their first date exploring San Francisco — and even ended up taking the much-maligned "long walk on the beach." After two amazing nights together, he jetted back to Paris and she to her New England home. Where things will progress from here is unclear, but Analisa is hopeful. "The idea of living in Paris definitely gels with how I see my future," she admits. "Down the line, that doesn't scare me. But this tentative 'What's next? What do we want?' — that's scary."

*Not their real names.