12 Nov

I have seen examples of people who achieved highly successful careers but were still unsatisfied with their situation. Something compels them to make decisions that, in several cases, are financially disastrous. They passed up certain high levels of earnings, probably with the expectation that they would earn even more significant amounts. Many of us would gladly trade places with them and do not understand why their ambition, needs, or greed caused them to reject the fortune they have attained.  Is it greed – or stupidity? I am sure there are psychological explanations for this, and I encourage these professionals to...

06 Nov

Sometimes, well-meaning people plan or take actions that they intend to create a social good or results for the betterment of all, but their actions result in undesirable unintended consequences. The people who were supposed to benefit do not do so and, in many cases, are worse off than before the action. There are many examples from economics or politics.  Here are a few: Rent controls Rent controls are prevalent in New York City. Landlords raise rents to levels that are unaffordable to many people. So, the political solution is to enact rent controls that limit the amount of rent or increases.  Rent...