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Why Time Has Slowed

Time slowed

Time slowed

Time seems like it slowed in March because many of us are being bombarded with new and surprising experiences.

  • We learned that shaking hands could be deadly.
  • That the economy can stop overnight.
  • How isolating lockdown can feel.

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IDEA EXTRACTED FROM:

Why Time Has Slowed

Why Time Has Slowed

https://www.collaborativefund.com/blog/why-time-has-slowed/

collaborativefund.com

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Key Ideas

The perception of time

There’s a common idea that time feels like it speeds up as you age.

The theory is that the perception of time relies on the number of memories formed in a period. The more new and surprising experiences, the slower time feels.

Time slowed

Time seems like it slowed in March because many of us are being bombarded with new and surprising experiences.

  • We learned that shaking hands could be deadly.
  • That the economy can stop overnight.
  • How isolating lockdown can feel.

Two likely outcomes 

  1. Surprise will sear the events of the last month into our heads permanently. The amount of surprise felt in the previous month means this is a life-defining event that will reshape the world. It will end up similar to the Great Depression or World War II.
  2. Surprise will increase the demand for forecasts. The correct lesson to learn from surprises is that the world is surprising. But a natural response is to cling to any remaining impressions of certainty. The desire to know what will happen next feels urgent.

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Studying happiness

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  • Subjective well-being is preferred by social scientists instead of happiness because it's not so vague and subjective. 
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  • Circumstances could make up between 10- and 40 percent of your subjective well-being. But their effects never last very long.
  • The one variable that affects long-term well-being and is under our control: habits.

Habits = Faith + Family + Friends + Work

Constant happiness comes from human relationships, meaningful work, and the transcendental elements of life:
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  • When it comes to your family and friendships and how they should be, just cultivate and maintain loving, faithful relationships. There is no magic formula.
  • What makes work meaningful is not the kind of work it is, but the sense it gives you that you are earning your success and serving others.

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Naming a recession

Recessions are really "depressions," but the term "depression" seems too terrifying. After the Great Depression, economists began to use the word "recession" instead.

The 2007-09 recession involved a financial crisis, high unemployment, and falling prices, and was named the Great Recession. Our current recession is still without a name.

An official recession

A standard measurement for a recession is two-quarters of consecutive GDP contraction. But the official arbiter of recessions and recoveries, the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER), prefers domestic production and employment indicators instead. Other signs of the recession include:

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The current pandemic has led to an economic free fall which is unparalleled in history. In the US alone, the unemployment rate plummeted at such a speed that more than 10 million have claimed unemp...

The Lockdown: U.S.

The Pandemic Lockdown in the U.S. directly affects the livelihood of a shocking 80% of American workers who work in retail, real estate, education, entertainment and restaurants.
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The Lockdown: Europe And Asia

  • In Europe, The north of Italy, which is the main tourist hub, is seeing a collapse in economic activity, along with Germany, which is falling at a steeper rate than the United States. Even countries like Japan, which are not hit that hard, are about to witness an apocalyptic fall.
  • In India, with the abrupt 21 days shutdown, which was recently extended by another 19 days, only a small percentage of the 1.3 billion population is covered by any social security, and millions of daily wage or migrant workers, have no hope, future or place to stay.

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