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Russ Roberts

Russ Roberts Books

Economist

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“I have a friend with an incredibly demanding job that he doesn't particularly enjoy. But he puts up with it because he makes a lot of money, much more than he could make working for another company of doing something else. He has high blood pressure. His children get older every year. He complains about the stresses of his life and asks for my advice. Quit your job, I tell him. Earn less money. Spend more time with your wife and kids. Be happier. I can’t, he says. I have all these big deals in the works. Let me win those contracts, bag those bonuses. Next year I'll quit and slow down. But when next year comes along, he tells me about the new deals and the new bonuses. Next year is always a year away. Every year his salary grows. Every few years he moves into a bigger house and gets a new car. Is he happier? Evidently not. Despite the larger salary and the bigger house and the nicer car, he's not content. “Just one more year”, he says, “then I’ll have enough”

PhilosophyHappinessDesireWealthAmbitionDrive
Book:How Adam Smith Can Change Your Life: An Unexpected Guide to Human Nature and Happiness
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“Despite opposition from Main Street and numerous politicians, policy makers put together the rescue in the name of avoiding a financial crisis. Ultimately, the US Treasury got its money back and even made a modest profit, causing some to deem the rescue a success. It was a success in fiscal terms. But it encouraged lenders to finance risky bets without fear of the consequences.”

Financial Crisis Of 2007 2010
Book:Gambling with Other People’s Money: How Perverse Incentives Caused the Financial Crisis
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“Adam Smith was not a big fan of the pursuit of fame and fortune. His view of what we truly want, of what really makes us happy, cuts to the core of things. It takes him only twelve words to get to the heart of the matter: Man naturally desires, not only to be loved, but to be lovely.”

MenWantHeartMatterBigsDesireViewsCuttingFansFameFortuneCorePursuitLovelyAdamTwelve
Book:How Adam Smith Can Change Your Life: An Unexpected Guide to Human Nature and Happiness
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