Daniel Pink has some surprising results about what motivates people. Mostly, if there’s any creativity, then more money doesn’t provide more motivation — and may even unmotivate. Doug Green has a detailed review of this book — I saved a copy.
You can also check out an animated version of a talk by Daniel Green:
There’s some lesson to be learned here about investing vs consuming but I can’t quite figure it out! Hmm, I wonder if I’m a consumer or an investor.
If instead of spending $5700 on an Apple Powerbook in 1997 you’d bought Apple stock, it’d be worth $330K! If I hadn’t bought a MacBook Pro in 2008 for ~$2,499 but bought Apple Stock it’d now be worth $5,680. I’d have nearly $8,000 more.
I was trying to explain “The New Trade Theory” and doing a poor job of it. Fortunately, Krugman does a good job simplifying it here.
The new trade theory starts with the observation that while this explains a lot of world trade, it also misses a lot. France and Germany sell lots of stuff to each other, even though they have similar climates and resources; so do the United States and Canada. What’s that about?
The answer is that there are many goods that aren’t like wheat or bananas, but are instead like wide-bodied jet aircraft. There are only a few places in which wide-bodied jets are produced, because of the enormous economies of scale – you only want a couple of factories worldwide. Those factories have to be somewhere, and those countries that get the factories export jets, while everyone else imports them.
I’m reading a book “The Art of Happiness” by Howard Cutler. He’s a psychiatrist who spent time talking with the Dalai Lama. Here’s an interesting quote about what a psycologically happy person is:
Well, I would regard a compassionate, warm, kindhearted person as healthy. If you maintain a feeling of compassion, loving kindness, then something automatically opens your inner door. Through that, you can communicate much more easily with other people. And that feeling of warmth creates a kind of openness. You’ll find that all human beings are just like you, so you’ll be able to relate to them more easily.