Quote from Sendhil Mullainathan

The present presses automatically on you. The future does...

2018-05-01

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The present presses automatically on you. The future does not. To attend to the future requires bandwidth, which scarcity taxes. When scarcity taxes our bandwidth, we become even more focused on the here and now. We need cognitive resources to gauge future needs, and we need executive control to resist present temptations. As it taxes our bandwidth, scarcity focuses on the present, and leads us to borrow.

Sendhil Mullainathan
Sendhil Mullainathan in "Scarcity: Why Having Too Little Means So Much"

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