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The impact of opportunity cost on personal and professional life
Evaluating the benefits and drawbacks of different choices
Understanding the concept of opportunity cost
Many of us think of our past as a kind of a video library where we can look at records of our lives. If memories were fixed like videotapes, you would find it difficult to imagine a new situation.
It is our past memories that help us imagine a future, and to preview future events. This skill of using the past to predict the future helps us try out different hypothetical scenarios before we commit.
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Part of your sense of time passing is dictated by the number of new memories you have made. Time feels as if it is going more slowly when you are bored or feeling lonely or rejected.
In contrast, if life feels as though it's going fast, this could be a sign of a full life. If you lay down m...
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Although some physicists would argue against the existence of time, we all do have a perception of time that reflects the reality of our lives on Earth.
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Most of us forget more than we remember. We change memories to make sense of what has happened in our lives. When we then recall a memory, we reconstruct the events in our minds and even shape them to fit in with any new information.
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Our biological evolution hasn’t just hindered us from addressing the challenge of climate change. It’s also equipped us with capacities to overcome them: we can recall past events and anticipate future scenarios. We can imagine and predict multiple, complex outcomes and identify actions needed in...
The limits of our memory serve us well in many respects.
There’s an extreme positivity bias toward the future: we think that future events are more important to our identity than the past events.
But we have to temper our expectations and keep in mind that no matter the degree in which we can dream up detailed scenes of things yet to come,
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