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It is a term that characterizes the tendency for purchases to generate new purchases.
Example: We set up a gym membership, and then we think we need better workout clothes, headphones, towels, a combination lock, and a bag to carry everything.
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We live better lives than Denis Diderot and his peers and yet we always crave for more. We decide our refrigerator isn’t nice enough; not when the latest models are wifi-enabled with touch screens.
But our situation is more forgiving. We can always simplify. We can downsiz...
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958 reads
The French philosopher Denis Diderot became a wealthy man at age 52 and was able to afford small indulgences.
He started with a scarlet robe and continued with other items, because they were not matching the elegance of that robe. The joy of everything he bought was short-lived. Piece ...
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912 reads
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Most people tend to be overly optimistic planners, but then the projects take much longer and more effort than initially thought.
Our inability at planning shows in how we tend to choose immediate over long-term rewards. Life is also complicated and what we need to do to h...
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