Concept of Fairness In Our Everyday Lives
For those of you who follow our Facebook page, you will notice that each week we share an article or blog post that we think our clients will find interesting. While the articles are not written by anyone at our firm, they usually fall into one or two categories. The articles either reinforce a financial planning idea that we have also discussed with our clients, or it is a “food for thought” article that revolves around a financial topic.
Recently, our Trading Manager Zak, discovered an article that we both really liked, but the title was rather problematic. While I am not sure if the author meant the title to be “clickbait,” the fact that Zak and I debated whether we could share the article at all because of the title told us we probably should not, at least not without a little introduction. However, the premise of the article makes the post worth reading in my opinion.
As I mentioned in previous posts I have written, behavioral finance or investor psychology is an area that I find fascinating, and the ultimate premise of the linked article is around the idea of fairness. In the past, billionaire investor Charlie Munger is quoted as saying “It’s not greed that drives the world, but envy.” The idea of fairness is punctuated in the article by a must-watch video on an experiment done with Capuchins monkeys. Seriously, if you don’t want to read the whole linked article, at least watch the video!
A few weeks ago, I shared an article about a tool – the Wheel of Life – that we use to help our clients with goal setting. After reading the linked blog post below, I could not help but think about how our satisfaction in those nine areas of our life can be influenced by the concept of fairness in our everyday lives. We all have our opinions on the value of social media, but I think it is fair to say that Facebook, Twitter, and Instagram have made it far too easy to compare our lives to other people’s lives.
So, without further ado, here is the link to an article titled “The Pandemic Has Made Everyone Richer,” written by Ben Carlson.
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