ConceptsNest

  ***Continued from Chapter 01 (Covered previously: Meaning, Progressive & Degenerative impact, Loss Aversion, Psychological Roots) Link to Chapter 01 Forms in which Scarcity Mindset may Manifest A) Believing That Situations Are Permanent : . . . . . . . . . . We think “Well, that’s just the way it is” instead of changing our frame of mind and seeking out our own happiness. Thinking this way depletes our energy, harms our self-esteem, and makes life a burden in general. Nothing is permanent. There are moments in our lives that will take our breath away. An abundant mentality thinks this way and sees life as dynamic and mouldable ; something that is ours to shape and make to our liking. Perhaps most importantly, an abundant mentality sees life as an adventure. B) Using Thoughts And Words Of Scarcity : . . . . . . . . . . What we tell ourselves ultimately becomes an extension of us if left unchecked. When negative thoughts arise, which is quite natural, one way is to become an o

  Most of us can remember playing musical chairs as a child. As the music played and we marched around the circumference of the circle of chairs, we anxiously awaited the music to stop so we could fight for that last seated spot. There was something about that one-on-one physical competition and face-to-face conflict fighting for something tangible that added spice to the game. This is often one of the youngest experiences that we have of a scarcity mentality that can be translated to adult life. Simply put, Scarcity is the condition of having insufficient resources to cope with demand . When we are faced with limited resources, we strive to make effective use of them in the process of making important decisions. Economics is the study of how we use our limited resources (time, money, etc) to achieve our goals. This definition refers to physical scarcity. Once we enter that professional world, that “ every person for (him/her)self ” way of thinking often re-emerges as many people

Everything we do (thinking and doing) occupies some bandwidth. Some things occupy a little and others a lot. Examples of things that occupy a little, for most people, are walking, drumming your fingers, or tapping your foot, and things that we are expert at because we have done them often. Examples of things that occupy a lot are talking, listening to information, doing anything we have to concentrate hard on, doing things that we are not expert in because we have not done them before. Driving a car is a good way to envisage this. When we were learning to drive, we had to concentrate extremely hard . We would not have been able to hold a conversation while driving. Almost all our attention was involved in trying to drive. Now that we are an expert , we do not usually have to use so much of our attention. Of course, we still must use a fair amount, but we could also have a conversation while driving. But then, every now and then while we are driving along, something happens that mean