Not All Debt Is Bad. From Time

I Think We Could Get People To Both Be More Productive And Happier. We're Less Productive As Individuals. We're Less Productive As Companies, And We're More Miserable.

In The U.s., I Think There Is An Ideology Of Not Telling Kids What To Do. Nobody To Tell You Who To Marry, Not Tell You What Job To Pick. You're Your Own Person. You Have The Freedom To Choose, Including The Freedom To Fail In Magnificent Ways. And I Think That's The Big Difference. In Other Countries There Is Basically A Social Norm About Saving That Is Passed From Generation To Generation. In The U.s. There Isn't.

I Always Found The Appeal To The Market Gods A Bit Odd. Why Would The Market Fix Mistakes Instead Of Aggravating Them?

We Can Think About How We Reduce The Pain In Paying. So, For Example, Credit Cards Are Wonderful Mechanisms To Reduce The Pain Of Paying. If You Go To A Restaurant And You Are Paying Cash, You Would Feel Much Worse Than If You Were Paying With Credit Card. Why? You Know The Price, There's No Surprise, But If You're Paying Cash, You Feel A Bit More Guilt.

Because Cheating Is Easier When We Can Justify Our Behavior, People Often Cheat In Small Amounts: We Can Come Up With An Excuse For Stealing Post-it Notes, But It Is Much More Difficult To Come Up With An Excuse For Taking $10,000 From Petty Cash.