I used to hold a unitary view, in which I proposed that only experienced happiness matters, and that life satisfaction is a fallible estimate of true happiness.

People talk of the new economy and of reinventing themselves in the workplace, and in that sense most of us are less secure.

Negotiations over a shrinking pie are especially difficult because they require an allocation of losses. People tend to be much more easygoing when they bargain over an expanding pie.

My impression is that the elimination of memories greatly reduces the value of the experience.

Finally, the illusions of validity and skill are supported by a powerful professional culture. We know that people can maintain an unshakeable faith in any proposition, however absurd, when they are sustained by a community of like-minded believers. Given the professional culture of the financial community, it is not surprising that large numbers of individuals in that world believe themselves to be among the chosen few who can do what they believe others cannot.

It's nonsense to say money doesn't buy happiness, but people exaggerate the extent to which more money can buy more happiness.

We deeply want to be led by people who know what they're doing and who don't have to think about it too much.