lessons from 'freakonomics'

currently reading
"Freakonomics" - by Levitt & Dubner

kept jotting down the lessons in my language or code words to remember for long time............thought u would love to read too
=========================================================

- everything is (or isn't) because of some incentive

- every "conventional wisdom" is a myth

- world is a astronaumical mix of "butterfly effects"

- elephant effects must be obvious, too

- how u look at the data is what it tells u

- economics decides everything

- economics and technology can solver any problem

- there is no truth.....only convenient truth

- perception is the reality

- life is unfair, world is unbalanced, manind is unequal

- goats are born to be milked

- goats are born to be scapegoats

- go to ground zero and check

- demand and supply still decides it

- the whole world is caught in a tournament it knows it has no chance of winning

- try something different to have any chance of making it

- inability to innovate quickly and sufficiently is the world's problem

- time changes the game before u master the rules

- risk vs reward is only for the ruled

- world is the sum total of gangs

- it's all about money, honey!

Fear (my views)

All fear is in the head!

How does even a fiercest hound become a tail-wagging “his master’s pet”?

The kingdom of fear rises in mind, and that is where it perishes too!

Even a single step of bravery and courage can trigger an evalanche!

The wall of fear is strong enough to desist a sea of people; and is weak enough for a single daring
person!

Fear is a big power!

Both cowardice and bravery are highly infectious.

Face the fear upfront & the fear shall diminish in size.

Only the powerful can be happy. The weak shall be shooed away!

Vulnerability is not a virtue, don’t beg.

Power is a deterrent.

Only when you have inflicted a loss, threatened or are very lucrative and inviting to the
instincts, should you feel threatened.

Nobody is coming! Help yourself!

Hint your fear to the enemy and he shall instinctively threaten more!

Nothing in this world is to be feared, but to be understood.

Let us never negotiate out of fear, and let us never fear to negotiate!

We teach people how to treat us!

90% of the time, it is your image that makes or breaks your task.

People do what works!

Unity is strength.

Violence is a sign of a fearful, frustrated or a hunter!

You will be tested for your bravery!

Test the bastards for their bravery!

Who’s territory?

Use of power is a sign of weakness!

Assets and wealth can’t be protected if you are not powerful!

Cricket Analogies with Life

· “ Play with a straight bat ”
- In life it is important to do the right things rightly.

· “ Stay at the crease ”
- Have patience. You will have ample correct opportunities.

· “ Running between the wickets “
- Do happily and efficiently what has to be done

· “ Footwork ”
- Be adventurous. Use your talent. Be passionate

· “ Concentrate on line and length ”
- Consistency is crucial.

· “ Keep the scoreboard ticking. 1’s and 2’s are also important“
- A little progress everyday adds up to big results.
- Keep progressing and improving.

· “ Save 25-50 runs in fielding ”
- Practice frugality. Money saved is money earned. It’s compounding effect is huge!”

· “ Helmet, Guards, Pads, Gloves”
- Safety net in life is important – whether financial, social, family, political, religious…
- Live life sensibly.

· “ Don’t get hit-wicket ”
- Beware of wrong decisions which can be detrimental

· “ Build the foundation of innings”
- First few years of career, marriage, business are crucial. Concentrate on investing in foundation. You have to learn to walk before you run and take off

· “Rotate the strike“
- Take partners along. Give them opportunity. Take a breather yourself.

· “ Build partnerships ”
- What clicks, keep clicking. Stability is important.

How to take difficult decisions?

Go thru these 17 questions / posers and see if the decision surfaces:

* Will it be profitable / will it serve the intended purpose?

* Is it futuristic? Today it may seem justified, but will it be relevant in future too? Is the decision future proof?

* Is it a healthy / ethical / efficient thing to do?

* Generally, the decision opposite to the temptation is correct.

* What does your (tiny, little) inner voice and sixth sense say? Often, the little genie inside whispers sense, and often we bully or shoo it away! Generally, we KNOW what is right!

* Remember the Murphy's Law - 'Whatever you do it will be incorrect.' Plan on this hypothecation.

Remember - Everything has a day-after-tomorrow. Don't take a decision hastily or impulsively or on short-term considerations.

* Is the decision 'natural and obvious' or 'forced'?

* Is the decision technically correct? I mean, if you were to involve only head and no heart, would you still take it?

* Ask yourself point blank - What is the BASIC OBJECTIVE of the decision? Often, frank answer to this question will be eye opener and decisive.

* Ask yourself - What are the pros & cons of this decision? What are the implications & repercussions?

* Ask yourself frankly - "Am I mentally ready for this?"

* Ask yourself - Is this decision in harmony with my life? Does it fit culturally and psychologically?

* Don't forget other stake holders' rights! Ask youself as to how this decision will effect those stake holders. The stake holders may be your family, friends, colleagues, general public etc..

* Consider the practicalities of the decision. Often the asking may be eye opener.

* Generally speaking, don't decide till you are passionate about the motive.

* Ask yourself- What assumptions I have made in deciding? Sometimes our assumptions are totally or critically wrong. Look for the missing links.

Today's decisions, tomorrow's reality. Good Luck! Take the right decision!!!

Raising Children

Raising children is all about giving them:-

* Eyes / Vision
- Exposure, Information, Knowledge, Training, Experience, Programming

* Wings
- Infrastructure, Basics, Finance, Equipment

* Direction
- Life lessons, Life Strategies, Aim

* Flight
- Ambition, Adventure

* Glide
- Discipline, Control

* Brains
- Ability to take decisions, being practical, Conscience

* Spirit
- Confidence, Motivation, Inspiration, Courage

* Emotions
- Bonding, Ties, Compassion, Empathy

* Strength
- Physical Health, Mental Health, Spiritual Health,

* Roots / Nest
- Culture, Point of reference, Belongingness, Family, Safety Net

9 Passwords to Happy Life

9 Passwords to Happy Life

Each one of us desperately wants to be happy. If happiness is a treasure locked in a strong vault with nine chambers, here are the nine possible passwords. Read these without being disturbed, in private, absolute silence and without haste.

First Password
"Simple"
'It is so simple to be happy, but it is so difficult to be simple.'
Life is 99% clutter and 1% substance. If you are a computer and life is your RAM, then this 99% clutter is the virus which has jammed the free flow of happiness!
Remove the unnecessary and in the end all you will be left with is happiness!
But it requires a lot of courage to live simple.
Absence of simplicity is making us all unhappy!

Second Password
"Silence"
The world is full of noise. Noise - of words, of thoughts, of visuals...
Just remain silent for an entire day and your life will change...! Silence will evaporate every clutter in and around you. Silence not just of sound but of the mind as well!!!
Silence never comes alone. It brings smile even when everything around you is on fire! It opens the eyes of the mind!
Absence of silence is keeping us unhappy!

Third Password
"Slow"
Everyone on the Earth is running!
But where? For what? Why??
It is all madness!
99 out of 100 are running because they don't know anything except running or because they see everyone around running.
People are running without thinking. They don't want to be the odd man out!
Stop.
Step aside.
Look how everyone is still madly running! Towards imaginary destinations which keep on shifting everyday and which they don't even know clearly!!!
Leave the track. Get into the meadows!
Death is nature's warning to us to slow down.
The hypnotic pace of everyday life is fueling the unhappiness in our lives.

Fourth Password
"Easy"
Why complicate everything?
Whom are we trying to impress? The person we are trying to impress is already busy trying to impress someone else?
Why make it difficult?
Are we fools?
Keep everything easy and natural.
Difficulty in every thought and action and emotion is blocking our path to happiness!

Fifth Password
"Enjoy"
The ultimate purpose of life is to enjoy life! Nothing is more important than life!!
(But enjoyment must be such that it doesn't sow the seeds of loss of enjoyment at a later stage)
If you are not enjoying, then you are not living!
You are rich only when you live an enriched life.
Enjoy the nature you miss everyday. Enjoy the food, the music, the emotions, the pleasures…
Consuming life without enjoying is depriving us of happiness!

Sixth Password
"Relax"
Relax…life is a picnic…a grand party…It is not a job…not an interview…no race…no question…no challenge…no burden…no deadlines…
Every clutter is our creation. We keep on reacting on everything in life, and life keeps hitting us back!
Lack of rest and relaxation is keeping us tense!

Seventh Password
"Natural"
What requires 'force' brings stress. What is 'natural' is full of life!

Eight Password
"Patience"
Impatience with life is like eagerness for death!

Ninth Password
"Satisfaction"
Lack of contentment in 'what is', is like throwing away God's starter before he serves you the maincourse...

Relax…life is a picnic…a grand party…It is not a job…not an interview…no race…no question…no
God wanted us to be happy, we used our "intelligence" and messed it all up!

How to become rich in 1 day? (and happy too!)

How to become rich in 1 day? (and happy too!) By just changing the definition of being "rich"!!! There are two definitions which come to my mind. One is the traditional definiton and the other is the need of the hour! The first definition of being rich is "being wealth rich", the other definition is "being cashflow rich". Being wealth rich traditionally means you have a big house, a big car, lot of land, your life style is that of the rich, you wear expensive clothes, you have an air and attitude of the rich, you go to upmarket restaurants, you go to holidays to exotic places, travel mostly by air, everything in your life is first class…and alike. But there are big holes in this definition. Your big car may be on loan, your big house may be on loan, your business may be on mortgage, you may be in deep debt, your business may be in loss, your lifestyle may infact be a liability to you, your attitude may be your frustration wrapped in arrogance, you may be facing court cases, your health may be slipping out of your hands, you may not be "really happy" from "inside", your family and relationships may be in tatters… Being wealth rich doesn't necessarily mean cash rich. Your net worth may be negative. who knows the real picture of the wealthy? I have heard about quite a few "wealthy" who are in deep debts and are applying for personal loans. They are forced to maintain their lifestyle, they carry the burden of their image, they have a reputation to keep… They are not happy majority of the times. On the contrary, "being cashflow rich" is the real thing! Even the "wealth rich" enjoy their being "rich" only as long as they are 'cashflow rich'. Being "cashflow rich" simply means that cash keeps on coming to you regularly. You can do what you want to do…one by one… 80% of your happiness comes from just 20% of the 'things' and 80% of those 20% 'things' can come in 20% of the money! Think about it. Our 'wants' are virus in our mind 'computer'. The "system" stands hyjacked!!! Are 'real wants' which give us happiness and make us lively have been trashed!!! u r rich if you have cash in your pocket, and which will keep on coming in your pocket! Period! so, you can be rich from wherever you are , whatever you are, right now, right here… u r rich if your income is more than your expenses. Or, when your genuine expenses are less than your income! it appears that we are after money, but what we are really after is "permanent" money! And the trouble is there is nothing called 'permanent money'. Money accumulation has become no.1 disease on Earth! this is the reason why the mad rush of accumulating money never ends. After 1 lac, you want 10 lacs, then 1 crore, then 10 crore, then 50 and then 100 followed by 500….Even Bill Gates , Warren Buffet, Ambani's, Mittals want more!!! Every wealth is subject to confiscation, taxation, inflation, devaluation, fraud, distress sale, death, tragedy, erosion, ... And these worries keep on fuelling the race for more,more and more… The real life is getting lost while going for symptomatic relief to this disease! Seeking "permanent" money and wealth creates insecurity, but seeking regular cashflow is much easier…almost instant! so, want to be rich, here and now!!? become cashflow rich!!! Don't worry about tomorrow's cashflow. If tomorrow comes, and if you are alive and WISE, cashflow will continue!