Misbehaving: The Making of Behavioral Economics. 2015. Richard H. Thaler.
For much of the 20th century, economics
CFA Institute Enterprising Investor
Practical analysis for investment professionals
Book Review: Misbehaving
By Ronald L. Moy, CFA
Misbehaving: The Making of Behavioral Economics
2015. Richard H. Thaler
For much of the 20th century, economics was dominated by the notion that people behave in a rational manner that is consistent with classical economic theory. Whether the decisions were about what to purchase, how much to save for retirement, or maintaining a healthy weight, people were assumed to behave like Star Trek’s Mr. @Spock — in a logical and rational manner. The problem with this approach is that human beings do not always behave as economic theory would suggest. People are driven by emotion as well as by the inability to solve complicated problems and thus cannot always behave in a perfectly rational manner. In order to deal with some of these inconsistencies, some economists and other social scientists started to question the standard economic model. The new field that emerged from this work, which has come to be known as behavioral economics, began as a small band of renegade economists who, along with researchers in psychology, searched for better ways to understand economic decision making. Today, the field has gained much wider acceptance, as evidenced by the number of leading journals that publish articles on behavioral economics as well as the number of universities that offer courses and degrees in behavioral economics.
In Misbehaving: The Making of Behavioral Economics, Richard H. Thaler of the University of Chicago’s Booth School of Business, one of the founders of behavioral economics, takes us on an entertaining journey through its evolution. Thaler’s gift for writing has produced a book that is a blend of his life as a professor, stories of other economists he met along the way, and a history of behavioral economics.
Misbehaving is divided into eight sections that take us chronologically through Thaler’s academic career, starting at the University of Rochester as a graduate student with a burning curiosity about how people behave in the real world. Along the way, we are treated to Thaler’s recollections of how he and other luminaries in the field, such as Daniel Kahneman and Amos Tversky, established behavioral economics, recounted with his self-deprecating humor and deft storytelling.
As with any analysis that goes against conventional wisdom, these early researchers encountered numerous critics. One common criticism, attributed to Milton Friedman, was the “as if” argument. Using an example from billiards, Friedman argued that expert billiards players may not understand all the geometric calculations necessary to play well, but they behave as if they were able to do the calculations. Similarly, managers may not understand the concept of maximizing profits by equating marginal cost to marginal revenue, but they behave as if they did.
Another criticism of the behavioral school was that although consumers and perhaps business managers might make mistakes, the stakes were small and the limited opportunities to exploit those mistakes made them unimportant. This criticism led Thaler into a riskier, though potentially more rewarding, area of research: the financial markets, where it was assumed that professional traders would be able to identify mispricings and exploit them. Because Thaler had little knowledge of the financial markets, he enlisted colleagues and graduate students, including such well-known scholars as Andrei Shleifer, Hersh Shefrin, and Shlomo Benartzi. The conclusions of Thaler and his colleagues showed that even financial market professionals are prone to make the types of behavioral mistakes that laypeople make.
Misbehaving not only addresses many of the topics that are now mainstays of behavioral economics, such as mental accounting and stock market mispricing, but also provides entertaining looks at irrational behavior in various walks of life. Using the game show Deal or No Deal, Thaler and several of his colleagues showed that participants frequently make choices that are inconsistent with expected utility theory. Research by Thaler and his former student Cade Massey showed that National Football League teams tend to behave irrationally by placing too high a value on players taken early in the annual college draft. In a personal story, Thaler describes how arguably the most ardent supporters of rationality — University of Chicago business professors — tended to make irrational choices when it came to selecting available offices by placing too much weight on the wrong factors.
Thaler concludes the book with a section devoted to how these behavioral concepts can be used to “nudge” individuals into behaving optimally. Understanding human behavior can enable anyone who deals with people to find a better way of getting them to behave optimally. For example, although most people understand the need to save for retirement, surveys have shown that people tend to lack the discipline to begin a savings plan at work or to increase the amount they save as their wages increase. One solution to the problem is to change the way employees participate in a plan from “opt in” to “opt out.” Research has shown that when people must opt in to participate in a 401(k) plan, many choose not to sign up. But when they are given the choice of opting out, more people tend to contribute. Similarly, a default option that increases the amount contributed as the employee’s salary increases leads to higher contribution rates.
The lessons of Misbehaving are clear: Human beings, no matter how well trained in models of rational choice, make mistakes that are based on either emotion or a misunderstanding of the facts. Thaler shows how to avoid such errors and exploit the errors of others. He has a true gift for intertwining discussions of academic research with stories of how people actually behave. This book is an excellent read on the shortcomings of classical economic and finance theory.
More book reviews are available on the CFA Institute website or in the Financial Analysts Journal.
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All posts are the opinion of the author. As such, they should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute or the author’s employer.
Living my Life with Cerebral Palsy
How To Improve Your Time Management Skills Using 5 Simple Tips
If you always find yourself late for work, school or an appointment – or you often fail to finish your tasks – then you need to learn how to improve your time management skills.
It’s not that hard, although it might seem that way at first. Habits can be tough to break; but if you stick to your regimen for at least 21 days, then you have a good chance of developing a new habit: one that makes sure you’re always on time.
Learn how to manage your time better using these 5 simple tips below:
Tip # 1: Schedule Your Day.
If you want to learn how to improve your time management skills, then you need to have a concrete schedule for the day. Don’t get out of bed thinking that you’ll just wing it, because it often leads to a lot of time wastage.
It would be best to schedule and plan your tasks the night before, because your subconscious mind will help process their fulfillment while you’re sleeping.
Tip # 2: Create A Check List.
If you have deadlines coming up, then you need to create a list arranged according to priority. This helps keep you on track and even encourages you to do more as fast as possible. There’s nothing like a list to keep you motivated and pressured to do your job.
Tip # 3: Do Everything Faster.
I know this sounds like something your irrational boss would say, but doing things faster is quite a legitimate solution to manage your time effectively.
Cooking breakfast, for example, can be done a lot faster if you’ve prepared the meal the night before. Getting to work might also be done faster if you stopped to refill the fuel in your tank on your way home from work.
Tip # 4: Stop Wasting Time.
Spacing out for even just five minutes is a waste of time. Not taking a shortcut is also a waste of time. If you want to learn how to improve your time management skills, then you need to cut down on the activities that aren’t related to work.
Chatting with your co-workers is fine; but perhaps you need to cut down on that too, especially if you have a deadline to meet.
Tip # 5: Learn To Multi-task.
Multi-tasking is not always advisable, especially if the tasks you’re doing need your full concentration. In smaller tasks, however, I’m sure you can do more than one thing at a time. Want some examples?
How about reading a book while waiting for the food you’re cooking to boil? Cleaning your room while talking to your parents is another way you can multi-task. And perhaps one of the best multi-tasking activities you can do is listening to motivational CDs while driving your car.
You probably didn’t have any lessons on how to improve your time management skills when you were still studying in school. There might have been seminars, yes, but it is from experience that you really learn how to make good use of your time.
If you always find yourself late for work, school or an appointment – or you often fail to finish your tasks – then you need to learn how to improve your time management skills. This article shows you how.
The Lampooned and Criminalized Donors
Inflation is a permanent feature in every prosperous economy. If there is no inflation and if the prices fall, there will be depression and mass misery. It is extremely difficult to revive an economy from depression because economic depression simply means the individual hopelessness translating into the collective depression of crores of people. Every economic activity will come to a standstill.
But inflation means continuous reduction in the value of money. Along with the unending fall in the value of money, every interest bearing instrument—-Fixed Deposits, Post office certificates etc, all of which are tied to an unchanging numerical figure automatically are subject to a permanent continuous fall in capital value. After some years they become mere scraps of paper.
But Fixed Deposits are essential for banking to exist. In every enterprise, the time of receipt and the time of payments never coincide. By the end of every month, salaries, rents etc must be paid and overdraft facility with bank is essential. If there are no banks, there will be only a massive and gigantic almost irreparable depression. The economic collapse will bring to an end the existence of the nation. After all taxes have to be collected, to pay the army etc, when there is paralysis who will defend?
The people who are taking the fixed deposits are continuously donating for the existence of the society. The loss of the principal is certain, as prosperity means inflation, the rate of inflation always will be more than the rate of interest, making the interest a fake income. The basic lifeline of an economy—the fixed deposit must be recognized as what it is, the sacrifice of millions of ordinary people to make their nation exist, in our case to make India TO PROSPER.
Now if the fake income called interest is added to the taxable income, it is not only assaulting the individual Fixed Depositors; it is an assault on India as a nation. It is an assault on the lifeline of the nation. And if the knife of reduction of interest on Fixed Deposits (the fake income) is resorted to, it means increasing the agony of the donors by deepening the cut.
But the Fixed Depositors are a demoralized lot.They do not have the courage even to squeak about the gigantic sacrifice they are making to keep the country alive. The cowardice is so palpable that if anyone musters some courage to tell the truth that the interest is fake income and that fixed deposits simply get lost totally ultimately, the person will be pounced at, normally by a person who ejaculates religious thought. Cowards usually use religion to cover up.
The taxes already collected from the fixed depositors shall be added to the principal amount of the fixed deposit. That is basic justice. Immediately the fake income, interest must be removed from the list of taxable incomes. And the capital value of the Principal must be increased proportionately with the rate of inflation. THIS IS AN URGENT STEP TO SAVE BANKING AND EVERYTHING THAT NEEDS BANKING. Unfortunately those that are prospering in the black money economy, who do not need banks at all, do not realize the peril towards which the country is drifting.
Troubling Habits of Chronically Unhappy People
Dr. Travis Bradberry
Coauthor Emotional Intelligence 2.0 & President at TalentSmart
Troubling Habits of Chronically Unhappy People
Happiness comes in so many different forms that it can be hard to define. Unhappiness, on the other hand, is easy to identify; you know it when you see it, and you definitely know when it’s taken ahold of you.
Unhappiness is lethal to everyone around you, just like second-hand smoke. The famous Terman Study from Stanford followed subjects for eight decades and found that being around unhappy people is linked to poorer health and a shorter life span.
Happiness has much less to do with life circumstances than you might think. A University of Illinois study found that people who earn the most (more than $10 million annually) are only a smidge happier than the average Joes and Janes who work for them.
Life circumstances have little to do with happiness because much happiness is under your control—the product of your habits and your outlook on life. Psychologists from the University of California who study happiness found that genetics and life circumstances only account for about 50% of a person’s happiness. The rest is up to you.
“The Constitution only gives people the right to pursue happiness. You have to catch it yourself.” – Benjamin Franklin
When people are unhappy, it’s much more difficult to be around them, let alone work with them. Unhappiness drives people away, creating a vicious cycle that holds you back from achieving everything that you’re capable of.
Unhappiness can catch you by surprise. So much of your happiness is determined by your habits (in thought and deed) that you have to monitor them closely to make certain that they don’t drag you down into the abyss.
Some habits lead to unhappiness more than others do. You should be especially wary of the ten habits that follow as they are the worst offenders. Watch yourself carefully to make certain that these habits are not your own.
Waiting for the future. Telling yourself, “I’ll be happy when …” is one of the easiest unhappy habits to fall into. How you end the statement doesn’t really matter (it might be a promotion, more pay, or a new relationship) because it puts too much emphasis on circumstances, and improved circumstances don’t lead to happiness. Don’t spend your time waiting for something that’s proven to have no effect on your mood. Instead focus on being happy right now, in the present moment, because there’s no guarantee of the future.
Spending too much time and effort acquiring “things.” People living in extreme poverty experience a significant increase in happiness when their financial circumstances improve, but it drops off quickly above $20,000 in annual income. There’s an ocean of research that shows that material things don’t make you happy. When you make a habit of chasing things, you are likely to become unhappy because, beyond the disappointment you experience once you get them, you discover that you’ve gained them at the expense of the real things that can make you happy, such as friends, family, and hobbies.
Staying home. When you feel unhappy, it’s tempting to avoid other people. This is a huge mistake as socializing, even when you don’t enjoy it, is great for your mood. We all have those days when we just want to pull the covers over our heads and refuse to talk to anybody, but understand that the moment this becomes a tendency, it destroys your mood. Recognize when unhappiness is making you antisocial, force yourself to get out there and mingle, and you’ll notice the difference right away.
Seeing yourself as a victim. Unhappy people tend to operate from the default position that life is both hard and out of their control. In other words, “Life is out to get me, and there’s nothing I can do about it.” The problem with that philosophy is that it fosters a feeling of helplessness, and people who feel helpless aren’t likely to take action to make things better. While everyone is certainly entitled to feel down every once in a while, it’s important to recognize when you’re letting this affect your outlook on life. You’re not the only person that bad things happen to, and you do have control over your future as long as you’re willing to take action.
Pessimism. Nothing fuels unhappiness quite like pessimism. The problem with a pessimistic attitude, beyond it being hard on your mood, is that it becomes a self-fulfilling prophecy: if you expect bad things, you’re more likely to get bad things. Pessimistic thoughts are hard to shake off until you recognize how illogical they are. Force yourself to look at the facts, and you’ll see that things are not nearly as bad as they seem.
Complaining. Complaining itself is troubling as well as the attitude that precedes it. Complaining is a self-reinforcing behavior. By constantly talking—and therefore thinking—about how bad things are, you reaffirm your negative beliefs. While talking about what bothers you can help you feel better, there’s a fine line between complaining being therapeutic and it fueling unhappiness. Beyond making you unhappy, complaining drives other people away.
Blowing things out of proportion. Bad things happen to everybody. The difference is that happy people see them for what they are—a temporary bummer—whereas unhappy people see anything negative as further evidence that life is out to get them. A happy person is upset if they have a fender bender on the way to work, but they keep things in perspective: “What a hassle, but at least it wasn’t more serious.” An unhappy person, on the other hand, uses it as proof that the day, the week, the month, maybe even their whole life, is doomed.
Sweeping problems under the rug. Happy people are accountable for their actions. When they make a mistake, they own it. Unhappy people, on the other hand, find problems and mistakes to be threatening, so they try to hide them. Problems tend to get bigger when they’re ignored. The more you don’t do anything about a problem, the more it starts to feel as though you can’t do anything about it, and then you’re right back to feeling like a victim.
Not improving. Because unhappy people are pessimists and feel a lack of control over their lives, they tend to sit back and wait for life to happen to them. Instead of setting goals, learning, and improving themselves, they just keep plodding along, and then they wonder why things never change.
Trying to keep up with the Joneses. Jealousy and envy are incompatible with happiness, so if you’re constantly comparing yourself with others, it’s time to stop. In one study, most subjects said that they’d be okay with making less money, but only if everybody else did too. Be wary of this kind of thinking as it won’t make you happy and, more often than not, has the opposite effect.
Bringing It All Together
Changing your habits in the name of greater happiness is one of the best things that you can do for yourself. But it’s also important for another reason—taking control of your happiness makes everyone around you happier too.
What do you do to make yourself happy? Please share your thoughts in the comments section below as I learn just as much from you as you do from me.
ABOUT THE AUTHOR:
Dr. Travis Bradberry is the award-winning co-author of the #1 bestselling book, Emotional Intelligence 2.0, and the cofounder of TalentSmart, the world’s leading provider of emotional intelligence tests and training, serving more than 75% of Fortune 500 companies. His bestselling books have been translated into 25 languages and are available in more than 150 countries. Dr. Bradberry has written for, or been covered by, Newsweek, TIME, BusinessWeek, Fortune, Forbes, Fast Company, Inc., USA Today, The Wall Street Journal, The Washington Post, and The Harvard Business Review.
If you’d like to learn how to increase your emotional intelligence (EQ), consider taking the online Emotional Intelligence Appraisal® test that’s included with the Emotional Intelligence 2.0 book. Your test results will pinpoint which of the book’s 66 emotional intelligence strategies will increase your EQ the most.
Dr. Travis Bradberry
Girl: “सो गया मेरा शोना??” 😘
Boy: “हा…” 😴
Girl: “तो फिर रिप्लाय कैसे दीया मेरे शोना ने??” 😍
Boy: “मै शोने का बाप बोल रहा हू… बहूरानी सो जाओ अब😐
Exam है कल तेरे शोने की….अगर वो फ़ैल हो गया न… तो तेरे शोने को ऐसा मारूँगा की सोने लायक नहीं बचेगा……..समझी …😡😡. !!!”
Why ‘Make in India’ when you ‘Fake in India’
Shephali Bhatt, ET Bureau
BE brings an in-depth analysis of the scale of counterfeit products in consumer good categories, and what brands and the government need to do.
Most of us know at least one person who went abroad during summer holidays and returned f launting his/her Gucci bag and Prada glasses. Often there would be a clique, green with envy touting it all to be ‘duplicate maal’ (fake products). They weren’t always far from truth considering how rampant counterfeiting is, globally, when it comes to luxury products. India is one of the hotbeds for the same with every city boasting of at least one popular destination for premium brands at non-premium rates.
Buying fake luxury products happens at a consumer’s volition when he wants to meet his esteem needs but not pay the price. It’s called ‘willful counterfeiting’ in industry parlance. And consumers in India can easily get away with it since we don’t have laws that can get one arrested for purchasing fake premium products (unlike France and Italy).
The kind of counterfeiting that’s cause for concern however is daily use products such as food, beverages, medicine, auto parts, beauty products, and software. Almost a third of each of these categories is plagued with fakes, giving market leaders — always soft targets for counterfeiters — sleepless nights. Here’s why:
-FMCG and Packaged Food: In 2015, FICCI CASCADE (Committee Against Smuggling and Counterfeiting Activities Destroying the Economy)released a study that says the government lost nearly Rs 6,000 crore to the grey market of FMCG personal goods. The report also mentioned that 31.6 per cent of FMCG personal goods space is several shades of grey. The number is 21.7 per cent for the packaged foods industry. Which means roughly 1/5th of all the packaged food you’re buying may well be counterfeit and posing a serious threat to health and safety.
-Auto: 20 per cent of road accidents in India are attributed to fake automotive components, says a study by Nielsen and ACMA (Automotive Component Manufacturing Association Of India). The auto aftermarket is worth Rs 40,000 crore, as per the same study. Fakes account for 36 per cent of the pie.
Amid the loss to the government exchequer — Rs 2,700 crore per annum – is the incomputable value of the loss of life.
-Pharma: India is one the biggest markets for drug counterfeiting, says Zaheer Khan, chairman of EIPR (Enforcers of Intellectual Property Rights) — an anti-piracy wing that specialises in conducting raids to bust these rackets. Khan and his team conduct two to three raids every day, across the country. In one of these, they found lifesaving drugs being produced in a cement mixer. “The level of hygiene was deplorable. Later we found the drug had salt at 100 times its recommended value. You often find such cases in baby products as well,” says Khan.
-Beverages: Be it alcoholic or non-alcoholic, the death toll due to fake products in both categories is alarming. “About a decade ago, when returnable glass bottles used to be the primary package for the beverage industry, it was grappling with the manufacture and sale of spurious products. It’s relatively easy to fill and seal fake beverages in glass bottles,” says Arvind Varma, secretary general of IBA (Indian Beverage Association). With consumer preference shifting to PET packs (they are now 65% of the market), the issue is more of counterfeit rather than spurious products, he adds.
You can’t even expect consumers to catch the fakes. Often packaging material gets leaked out of the company’s own supply chain. “The dubious manufacturer picks original packaging from the recycled market and refills it with substandard liquid. Bottle caps are easy to imitate anyway,” says Anurag Kashyap, partner – fraud investigation & dispute services at EY (Ernst & Young). Some Chinese counterfeit imports contain addresses of Baddi (Himachal Pradesh) or Haridwar (Uttarakhand) on their packaging instead of ‘Made in China’.This ensures the consumer doesn’t get suspicious given these are popular manufacturing destinations in the country.
Apply this methodology to any branded commodity and you have a ready reckoner on ‘How to make a successful fake’.
-Tales of Online Fakery: Several reports have indicated how counterfeiting has been spreading to the online luxury space. But with the ecommerce #BigSaleDay hysteria, several other product categories have also come under the grey cloud. “25% of all the products available online would be counterfeit,” says Dinesh Anand — partner and leader of forensic services at PwC India. But that’s just his personal assessment, he’s quick to add. Drugs, electronic appliances, and tech products are the worst affected.
Says Rajesh Gupta, country manager – India and SAARC for SanDisk: "Counterfeit products were typically sold at known hot spots in each city: outside railway stations or weekly markets, where consumers are in a hurry and it is not easy to trace back the seller. Now counterfeiters are also becoming active on e-commerce.
Some unmanaged online marketplaces are abused by counterfeiters where they exploit anonymity to sell with sense of impunity." Sites ending with url extensions like ‘.tld’ and ‘.brand’ are usual suspects we hear — easy to go unnoticed by an ordinary user. No wonder all the major ecomm brands are devising measures to check the penetration of fake sellers on their sites. Delisting is common. Amazon does it regularly. Flipkart apparently delisted 100 sellers as of last October. They also have a ‘mystery shopping’ activity where employees buy products to check how fake-proof the system is.
-Who Will Bring On The Counter Strike? It’s a hard task considering this mammoth industry grows irrespective of the mini holocausts it’s subjected to by way of raids and arrests. As EY’s Kashyap says, “These are not entrepreneurs who want to grow in one line of business. They switch to producing whichever brand’s packaging material is readily available.” Every day 100 websites shut down but 100 others mushroom as well, adds PwC’s Anand; a given in a huge margin and extremely low risk business.
It’s not that we don’t have adequate laws in place. “But stricter enforcement has always been the problem,” says Dipankar Barkakati, additional director and head – IPR & FICCI CASCADE at FICCI. Factors like resource crunch, the lack of enforcement officials and IPR infringement cases not being a priority have also been a problem area, he adds. “Moreover, India lacks deterrent punishments in IPR violation cases; hence offenders are not intimidated enough.” Basically, if things go awry, the punishment is not even a patch considering the gravity of the offense and its implications. With a new IPR policy in the offing, Barkakati and the FICCI CASCADE team hope that the situation will improve.
What Are The Marketers Doing? As a part of its Combating Unfair Competition (CUC) program, Hindustan Unilever (HUL) applies a three pillar strategy to fight counterfeiters: building a dedicated team with ample money and resources; educating consumers about IPR; and finally working with the government on regulation and enforcement. Dev Bajpai, executive director – Legal and Company Secretary, HUL, agrees with FICCI on the IPR issues. “There are still rough edges in IPR related legislations that need to be corrected,” he says." These come in the way of effective actions on the field and HUL is working through industry associations to have these dealt with by the government, he adds.
The onus is not on the government alone, which is why every year, HUL commemorates World IP Day and World Anti-Counterfeiting Day, to propagate knowledge about IPRs. As Mohit Bahl, partner and head – forensics at KPMG India, explains: “Creating awareness about genuine and fake products by educating consumers is of paramount importance since more than the top line it hurts the brand value. Consumer trust once lost can be difficult to regain.”
Brands have started waking up to online counterfeiting as well. “Pharma companies, for instance, now use digital authentication apps,” says Anand of PwC. The app allows users to send images of a medicine available online and detect whether the seller is genuine.
In fact, brands aren’t the only ones embracing tech solutions. Two government sector undertakings have adopted Onspot solutions — a unique QR code that’s integrated in product packaging which can be scanned using either the same app or a regular QR code scanner, to verify product authenticity in real time. “In a scenario where it’s so easy to copy holograms, cause pilferage in the supply chain, and dupe consumers — this technique proves really helpful in detecting counterfeiting,” says Rajiv Hiranandani, executive director, Onspot Solutions.
Several other market leaders employ investigative agencies that conduct raids on counterfeiters. But raids don’t ever nip the evil in the bud, feels EY’s Kashyap. Often the dealers have a nexus with the police, he further adds. Liaising with the likes of FDA (Food and Drug Administration) to conduct raids and deal with manufacturers, wholesalers, and retailers is a better option, he feels.
To settle the debate between raids and investigation, PwC’s Anand rightfully concludes: “At this point, everybody is in a reactive mode than a preventive one. I don’t think anybody knows what the right solution is, but every unit is doing its bit to check it to the best of their ability.” You, dear reader, should do your bit too, no matter which side you’re on.
हेक स्कूल दे क्लास रूम विच – हेक मास्टर : होम वर्क क्यूँ केनी किता ..?
बाल : मास्टर , लाइट केना हई …..
मास्टर : फेर क्या मोमबत्ती जगा घीने हां ..
बाल :मास्टर , माचिस केना हई …….
मास्टर : माचिस क्यूँ केना हई ?
बाल : पूजा घर विच पई हई ……
मास्टर : फेर क्या हई ऊथु चा घिने हां …
बाल : धाता केना हांमी ……
मास्टर : धाता क्यूँ केना हांवे ..?
बाल : पानी केनां ह ई मास्टर जी
मास्ट र : पानी क्यूँ केना ह ई ..?
बाल : मास्टर जी मोटर केनी चलदी पई ह ई ….
मास्टर : ओ कमबख्त मोटर क्यूँ केना चलदी पी ह..??
बाल : मास्टर जी ड्सेया ता हई …लाइट केना हई
This is the story of a couple who love each other very much, but the husband can not remembers dates so the wife has to remind him the birthday and wedding anniversary dates.
It was the 24th wedding anniversary when the wife reminded a day before and the husband had to get an appropriate present.
Next year it was 25th anniversary so the wife reminded John who was reading morning paper.darling today is our 25th wedding anniversary .john replied,I think you should this time tell me what you want? Wife replied ,“ok I will tell you tomorrow.”
Next day in the morning the wife said" I would like to have a piece of land in the local cemetery ,so that I know where I would be buried after my death." John agreed and contacted the local council,got a piece of land,called a landscape Gardner and it was all done in 24 hours. The wife was very happy and thanked John for such lovely present.
Now comes the 26th anniversary and as usual John is reminded by the wife. First John did not answer but when the wife repeated,he replied," you have not used your last year’s present, how do you expect me to buy another present this year."
Well done John.
DO NOT LOOK IN THE APPEARANCE
A family of five people spending the day at the beach was. The children were making sand castles along the water when, in the distance, appeared an old woman, with her dirty clothes and ragged, collecting things from the floor and introduced into a bag.
Parents called with other children and told them not to approach the elderly. When she passed them, leaning over and over again to pick up things from the floor, she smiled at the family. But he did not return the greeting.
Many weeks later learned that the old woman had her whole life cleaning the beach of glasses for children not wounded feet.
One day Akbar asked his courtiers if they could tell him the difference between truth and falsehood in three words or less. The courtiers look at each other in bewilderment, but couldn’t find an answer. The emperor finally turned to Birbal. ‘Four fingers’ said Birbal. The emperor was confused, but Birbal elaborated. ‘That’s the difference between truth and falsehood, your Majesty. Everything you see with your own eyes is the truth. But what you hear with your ears may or may not be true. More often than not, it’s likely to be false.’ But Akbar didn’t get the point of ‘ four fingers.’ To which Birbal replied – ‘The distance between one’s eyes and one’s ears is the width of four fingers.’
The moral of the story is to trust your eyes and nothing else.
When you go for any interview, the most basic thing you have to remember is that the interviewer also feels that he is interviewed by you. He also wants your good opinion like you who wants his good opinion. So think very positively within you about the interviewer, feel admiration for him and then that face of yours will perform the task of getting the positive atmosphere. What any employer today wants most is whether you bring the needed positive atmosphere into the organization; whether you contribute to the team energy or synergy. Your expertise is one of the plus points. But your positive presence is the most important point. Your presence must help the creativity of the colleagues. The habit of assuming mainly positive things about the person is the road to your and your team’s success.
But suppose the other person is totally negative. Then if possible avoid him. But suppose you cannot avoid him. Then remember Skinner’s theory of reinforcement. A person repeats what he has done only when he gets what he aims at. If he sees success, then he will persist.So, open your fangs and simply dissect him till any idea of success and reinforcement vanishes from him. Never give reinforcement to a negative person.Never, never, never underestimate your fighting capacity. Become the ant that never gives up. An ant was Bismarck’s guru.
While fighting, remember the face of a Gurkha soldier. A Gurkha soldier’s face remains peaceful and cheerful even when he was killing and creating terror in the enemy. He maintains the same face which he has when he was relaxing and sipping tea. He smiles happily while fighting, the same smile you get when you converse with him.
SO ALWAYS SMILE, WHETHER YOU ARE CONVERSING OR QUARRELING OR FIGHTING. Remember that any bitter person who succeeds temporarily ultimately cowers, because bitterness corrodes one’s personality. A person who gives biting statements is wasting his life in cultivating bitterness only and he will be the ugliest person ultimately to everyone. Never admire a man with a scowl on his face. You lose your own self esteem as a result.
For a bitter person the world is a great commode, so that his/her accumulated bitterness can be spewed upon. The person needs an excuse, the rankling past insults, failures; revenge feelings propel him/her to the insulting, denigrating and revengeful communications. But he/she is always afraid that the insults may visit again. For the sake of self interest one shall never encourage the release of venom from such people. They spoil the atmosphere and create chronic negativism.
But when you go for an interview or meet new people or friends or relatives, always assume that the other person is good and noble. Then your body language takes over. After all 67 per cent of communication is by body language and the remaining is a mixture of good and bad feelings in editing, censorship etc—the realm of words. Your body cannot tell a lie. But you also cannot tell truth completely by means of words—you censor, edit, control, and speak less or too much. The best method of communication is just smiling after deliberately thinking that the other person is noble. Silence with a positive smile is most successful communication.
मरीज़ को डॉक्टर आखिरकार समझा पाया कि ये ऑपरेशन कितना जरूरी है लेकिन ..
जैसे ही उसने 8 लाख का खर्चा बताया मरीज़ ने फिर मना कर दिया।
डॉक्टर बोला — तुम पहले 2 लाख जमा कर दो , बाकी 22 हज़ार हर महीने किस्तों में दे देना।
मरीज़ बोला — ये तो ऐसे हो गया , जैसे में कोई कार ले रहा हूँ।
डॉक्टर बोला — कह तो सही रहे हो.. लेकिन
कार तुम नहीं में ले रहा हूँ। 😜
The greatest lunacy that has taken over mankind is Economics, which is not based on Ecology. It is the ultimate mass lunacy. We the Homo sapiens have long back become the homo in-sapiens, the most anti ecological and ego centric or lunatic specie. This anti nature or anti ecological cult is supposed to be development. At one go without batting an eye lid, we assert that the entire world is just a resource for the use of only mankind!
“Life is not merely a murderous game in which cheating and killing insure the injection of the rogue’s genes into the next generation, but it is also a symbiotic, cooperative venture in which partners triumph. Indeed, despite the belittling of humanity that naturally occurs when one looks at “Homo sapiens sapiens “from a planetary perspective of billions of years of cell evolution, we can rescue for ourselves some of our old evolutionary grandeur when we recognize our specie not as lords but as partners: we are in mute, incontrovertible partnership with the photosynthetic organisms that feed us, the gas producers that provide oxygen, and the heterotrophic bacteria and fungi that remove and convert our waste. No political will or technological advance can dissolve that partnership.”(Lynn Margulis and Dorian Sagan in Microcosmos)
Well, we are actually attempting to dissolve the partnership and also destroy the partners, viz., the rest of the biosphere and that attempt is what is called economics. Let us for some time leave the human perspective and adopt the perspective of bacteria, to study nature and our cult-the economics.
“From the microcosmic perspective, plant life and animal life, including the evolution of humanity, are recent, passing phenomena within a far older and more fundamental microbial world. Feeding, moving, mutating, sexually recombining, photosynthesizing, reproducing, overgrowing, predacious, and energy expending symbiotic microorganisms preceded all animals and all plants by at least two billion years.”
There is an urgent need to leave the anthropocentric (or ego centric) perspective and adopt the perspective of bacteria which are still the architects and administrators of evolution. You are now living because; every single micro second of your life is due to the activity of the bacteria in you. Economics is the flower of ignorance and absolute stupidity.
We are fundamentally and foundationally bacterial based organisms.
“People are neither fundamentally in conflict with nor essential to the global ecosystem. Even if we accomplish the extraterrestrial expansion of life, it will not be to the credit of humanity as humanity. Rather it will be to the credit of humanity as a symbiotically evolving, globally interconnected, technologically enhanced, and microbially based system.”(Lynn Margulis and Dorian Sagan)
We need to urgently change our perspective. It has to be the ecological and more importantly from the perspective of the microorganisms. Nature is not the usable and consumable wealth. You are part of nature as one symbiotic organism. The very concept of consumption boils down to self consumption-tuberculosis. Economics as it is taught today is outrageous. Every single topic now taught in economics has to be changed into a study of the symbiosis of the human organism’s life with the rest of the biosphere. After industrialization and the galloping pollution, mankind is driven into the abyss, being kept unaware of the catastrophe by publicity glitters, stupid technical looking cost, revenue, demand, supply,indifference,employment,income etc curves, mainly to obfuscate. The human organism has to be studied as one among the life forms in the biosphere, and economics shall be defined as the life of human beings as a symbiosis with and in the biosphere.
A Jewish husband and wife were having dinner at a very fine restaurant
when this absolutely stunning young woman comes over to their table,
gives the husband a big open-mouthed kiss,
then says she’ll see him later and walks away.
The wife glares at her husband and says,
“Who was that?”
“Oh”, replies the husband, “she’s my mistress.”
“Well, that’s the last straw”, says the wife.
“I’ve had enough, I want a divorce!”
“I can understand that,” replies her husband,
“but remember, if we get a divorce it will mean no more shopping trips to Paris,
no more wintering in Barbados, no more summers in Tuscany,
no more Jaguar in the garage and no more yacht club.
The decision is yours.”
Just then, a mutual friend enters the restaurant with a gorgeous babe on his arm.
“Who’s that woman with Moishe?” asks the wife.
“That’s his mistress”, says her husband.
“Ours is prettier”, she replies.