All week long we have been talking about how Economics is the business of life. We are the product of our choices and a sound decision-making strategy is essential. In the din of distraction that we live in, it has become difficult to define opportunity cost as the enticement of short-term gain tests ability to reason. Self-discipline would have served many of the over-extended victims of our economy's collapse well. In the ashes of the devastation, your generation can sow a few lessons assuring the mistakes won't be repeated. It has never been more essential for young people to begin saving for their future, but in a society that celebrates consumption it is difficult. Click on the link above to learn more about the importance of delayed gratification and the rewards of patience.
The underlying principles of economics are present in all daily activities from academics to financial decisions. Studies have shown that self discipline and self control influence all definitions of success. Individuals that set clear and concise goals and objectives are more likely to achieve them than those who set vague aims. Deprivation of distractions may help the individual in countless circumstances. By depriving oneself these unfavorable obsessions one can have a clearer perception of what one wants and identify opportunity while others fail to notice it. Moderation and self control are essential to success and open many doors to a myriad of possibilities that may enrich one’s life in the near future.
ReplyDeleteDaniel F. Diaz
Michelle Moran
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I completely agree with this article, though not specifically the title. Deprivation has a very negative connotation, and the message being conveyed here is a positive one. Instant gratification is a lesser evil of our current society, and it only follows that a person with self discipline will be successful. Only one example would be turning off the t.v. to study and do homework. Someone who can do that will certainly do better in class than the person who gives in to his or her impulses and forgets about what is important. Teaching children at a young age to stay focused and work hard towards a goal is a wonderful concept, and an improvement to future generations. It seems so simple to accomplish what is necessary now and do what is unnecessary later, but it is a behavioral pattern that must be learned. I am thankful that my parents employed many of these techniques, such as only paying for half of expensive items that I want, so that now I reap the benefits of a productive and fulfilling life.