The idea that you will make the right decision every time is very unlikely.

Not all debt is bad. From time to time we should get into debt when there's a good reason for that.

Giving up on our long-term goals for immediate gratification, my friends, is procrastination.

We are all far less rational in our decision-making than standard economic theory assumes. Our irrational behaviors are neither random nor senseless: they are systematic and predictable. We all make the same types of mistakes over and over, because of the basic wiring of our brains.

Ownership is not limited to material things. It can also apply to points of view. Once we take ownership of an idea - whether it’s about politics or sports - what do we do? We love it perhaps more than we should. We prize it more than it is worth. And most frequently, we have trouble letting go of it because we can’t stand the idea of its loss. What are we left with then? An ideology - rigid and unyielding.

People are willing to work free, and they are willing to work for a reasonable wage; but offer them just a small payment and they will walk away.

When we think about labor, we usually think about motivation and payment as the same thing, but the reality is that we should probably add all kinds of things to it - meaning, creation, challenges, ownership, identity, pride, etc.