Rotman Management

The Problem with Self-Control

OVEREATING, UNDER-SAVING, over-borrowing and under-exercising are just a few of the short-sighted behaviours that we are often guilty of. Now the bad news: Acting in our own long-term interest is only getting more and more difficult. Why? Because our world has become more hostile to our ability to make decisions. It is a world in which everyone wants something from us — our money, our attention, our time — and they are armed not with guns, but with our vices.

Adding to the challenge is the sad fact that the way we have designed the world around us does not help us fight temptation or think long term. In fact, if an alien were to observe the way we have designed the world, the only sensible conclusion would be that human beings are determined to create more and more temptations that make us think more and more myopically and make more and more mistakes.

Think about it: Will the next version of the donut (donut 2.0) be more or less tempting? Will the next version of the smartphone get us to check it more or less throughout the day? And will the next version of tempt us

You’re reading a preview, subscribe to read more.

More from Rotman Management

Rotman Management8 min read
The Experience Mindset: A MULTIPLIER OF GROWTH
DAY IN AND DAY OUT, employees carry the torch for the values and mission of their organization. They are the facilitators of every moment that matters — all of the positive connections and the negative pain points encountered by both customers and th
Rotman Management10 min read
Exploring the DeFi Landscape: YIELD FARMING AND PHANTOM LIQUIDITY
LENDING AND BORROWING MARKETS are vital to the economy, providing individuals, businesses and governments with access to capital for investments, expansions and innovative projects. Without borrowing, economic growth would be severely limited; and wi
Rotman Management4 min read
Coming Soon? The Four-Day Workweek
In February 2023, researchers made global headlines when they announced that their four-day workweek experiment had been a success. Over six months, they had asked about 30 companies that collectively employed 1,000 people to give their teams an extr

Related Books & Audiobooks