Why Harvard Graduates Chose Lesser Economics - Robert Grant

#shorts #moneymotivation

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[oldgreg]

"The modern economy isn't driven by greed, it's driven by envy."

-Charlie Munger

[wasayeditz]

Bruh they really took 160k over 200k 😂

[FloodedErnie]

“I’m not winning if someone’s not losing”

- Dodgeball movie

[madilynwilson]

I’ll choose 200k I don’t care about others, plus 20k difference is less than 40k loss …

[bryair]

So they chose less money cause theyre egos cant handle someone having more than them

[Markive]

This is like getting a 200, 000 salary and paying $40, 000 each year to make sure everyone else is capped at $150, 000. Over ten years that is $400, 000 you walked away from.

[Vinit_jain]

“ Excess of demand over supply causes inflation “
~ A harvard student

[coachtaewherbalife]

I don't tell people my salary, and I don't ask theirs. I'm happy getting more money even if I'm low man.

[nonamenolastname]

Thats cuz if u earn more than the entire class of HBS means your somebody and you can go far

[HornetCucumber]

Imagine this scenario. If you are better than others then top companies will hire you, you get best of everything, government wants you with them to make policies.

If you are last, then there is some problem in you. You might have a hbs degree but no future perks out of it.
The winner gets all is up there. They don't serve mediocrity up there in the top 1 percent.

[random]

A lot of people at Harvard are rich… even if their income is less than yours, they can ask their parents for more money than you. Most of them could cover that 10k difference with a single phone call to their parents just choose the 200k

[diegoamores]

The issue is there’s implied inflation in the question, which they probs considered

[productivityprime]

I think it might be because, even though the nominal money ($200k) is more in scenario B, if everyone else is getting more, then the real value of that money will be less. This is because, everyone will have more money, their demand will increase, which will cause the prices and hence inflation to rise. So, the real value of that 200k would be less. And it might turn out that if enough people are there getting more than them at $200k, the real value of the $160k in scenario A might be of more value/may have higher purchasing power.

[Andalusian_]

1. Prime example of behavioral economic theory

2. The answer to this also has to do with long-term inflation and long-term salary because you don't want to be less than average and have lots of inflation

[gnwbhtb]

If you earn more than your peers, then you have better purchasing power even though you are quantitatively earning less money.

[Ji-wwsr]

It’s not ego it’s logic.. wealth is relative. For example, if you increase your total asset less than the inflation rate, you’re basically getting poor every year compared to others. They chose A because they getting richer relatively, instead of B where you get poorer every year within the assumptions.

[FAHAD-elic]

No, it’s the prestige. It’s the honour. It’s the high end thing that you got . Everything can’t be bought with money.

[ticwugl]

Isn't money and value relative though? If everyone has more than you then you aren't rich. If everyone has less than you then you are. Also, isn't it quite normal for students to compare with their classmates and direct contemporaries rather than the average of a population or some other far removed statistic? Depending on what is considered, $160K in one scenario may seem more valuable than 200K in another in terms of purchasing power. Ego probably isn't the main thing they were thinking about.

[paulnejtek]

Scenario a makes sense from the standpoint of one upsmanship

[inscanada]

"value lies in comparison". READ THAT OVER N OVER UNTIL YOU GET IT.