We love to receive praise, but usually we're not certain what message, precisely, we should take from it. On the other hand, when someone points out our flaws, we realize immediately that something needs to change.
From Charles Duhigg
You're much better off creating positive rewards, complimenting people for acting correctly, rather than punishing them when they act incorrectly.
The discovery of the habit loop is important because it reveals a basic truth: When a habit emerges, the brain stops fully participating in decision making. It stops working so hard, or diverts focus to other tasks.
Once you break a habit into its components, you can fiddle with the gears.
In a sense, habits never really disappear. Once formed, they always remain in our neurology.
Consumer habits are key to understanding how to launch a product.
Technology giants have taken advantage of tax codes written for an industrial age.
The specific steps for changing a specific habit differ from person to person and habit to habit, but the steps - the formula - is essentially the same, and once you learn it, you can do amazing things.
Credit default swap is basically just an agreement that I have with you, where I sell you insurance on some bond you own. If the bond goes belly up, I promise to pay you. And as long as the bond doesn't go belly up, you pay me for selling you insurance.
Hank Paulson, the happy capitalist warrior who spent his life pursuing and defending free markets, is now the biggest interventionist Treasury secretary we've had since the Great Depression.
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