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You tell that to all the trust fund kids who go on to build global businesses? You're way off. Fear is a disabler. Many peer reviewed studies prove this. Stole
by rorykoehler 11y ago
You tell that to all the trust fund kids who go on to build global businesses? You're way off. Fear is a disabler. Many peer reviewed studies prove this.
Stolen from another comment on this page:
>Financial desperation squeezes the cognitive juice right out of you.
In 2013, Harvard researchers did a study of how financial stress affects decision making. Denise Cummins, Ph.D. explains their findings in Psychology Today:
"When the cost of [a car] repair was increased to $3,000, a very different picture emerged: The cognitive performance of those at the upper end of the income distribution was unaffected by the increase. But those at the lower end suffered a 40% decline! The authors interpreted this to mean that scarcity impaired people’s ability to think clearly. The threat—even an imagined threat—of a large bill made it difficult for poor people to focus on the cognitive tasks at hand."
Financial stress impedes human thinking / problem solving. People get consumed by the short term challenges in front of them, and can’t see the big picture.
Sources: http://www.sciencemag.org/content/341/6149/976 http://www.sciencemag.org/content/341/6149/976 http://www.psychologytoday.com/blog/good-thinking/201309/why-having-too-little-leads-bad-decisions http://www.psychologytoday.com/blog/good-thinking/201309/why...