Why Harvard Graduates Chose Lesser Economics - Robert Grant

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[@oldgreg315]

"The modern economy isn't driven by greed, it's driven by envy." -Charlie Munger

[@spitfire4460]

it doesnt have to be one or another, its starter by envy and finished off by greed

[@NazriB]

Lies again? NASCAR GrabCar USD SGD

[@origamifox5180]

Yeah that aged well today

[@helios2664]

Absolutely not.

[@jasonssavitt5297]

Its both

[@FloodedErnie15]

“I’m not winning if someone’s not losing” - Dodgeball movie

[@lynako2546]

The zero sum mindset is for the selfish

[@FloodedErnie15]

@@lynako2546Nice guys finish last. The zero sum G R I N D S E T is for winners. 🦾❤️😸

[@Turtledoeslife]

What part of the movie is that? Must’ve been White Goodman😂

[@Literallyarealhuman]

After graduating from Harvard, I would really hope that I make what I earn that has nothing to do with anybody else, but I know that everybody else will earn a lot because we have the same education

[@shorto4058]

​Are you harvard business school students@@Literallyarealhuman

[@wasayeditz7157]

Bruh they really took 160k over 200k 😂

[@Smart_Soham]

They are not like you

[@JohnJohnson-zt3bv]

@@Smart_Sohamwe should be more like him then

[@TejasShastri-lh2mq]

​​@@jeniusguy3540bro you think you're sounding 'uncommon and smart' but whatever you just said was plain stupid. Reevaluate your reply please

[@TejasShastri-lh2mq]

​@@jeniusguy3540the question was not to provide every guy in the world a salary of 200k, but just a select few along with the students. That isn't a number big enough to cause changes in the value of dollar lmao

[@wasayeditz7157]

@@Smart_Soham they don't know me son

[@bryair6163]

So they chose less money cause theyre egos cant handle someone having more than them

[@riyahayden4292]

Maybe they choose A because if let's say all that people earn 220k then, perhaps the inflation may rise especially in the city where most Harvard graduates would want to work. I know you can say few people earning 20k more than you will not make inflation rise. But we are just speaking from a hypothetical pov. Earning less than most people may make your value seems less when you want to change job. After a certain years, 160k and 200k wouldn't make that much of a difference in terms of spending or worth. A 200k and 300k would. There's a difference between money and value.

[@georgesmithers5999]

@@riyahayden4292 you think a few hundred people are going to single-handedly change inflation...

[@riyahayden4292]

@@georgesmithers5999 not of the entire country but may be mainly the top job opportunity cities. Like how the rental price or even food sometimes differs per state.

[@TheMædHåttër]

Harvard is hard to get into, most Harvard students are extremely competitive and egotistical

[@BufABuffalo]

Why else would they go to harvard

[@madilynwilson1834]

I’ll choose 200k I don’t care about others , plus 20k difference is less than 40k loss …

[@hellheaven4167]

More money doesn't mean more value

[@TahiaToha]

There’s a reason why you’re not at harvard

[@Devonte-w8o]

​@@hellheaven4167in this case it does. More money = more money. This scenario isnt enough to change the value of the dollar

[@hellheaven4167]

@@Devonte-w8o I know it not gonna to make any change but it's smart minds

[@Unknown-np3sk]

now think of this figures in billion or trillion if you want and the 87% of other people are more capable of you

[@Vinit_jain333]

“ Excess of demand over supply causes inflation “ ~ A harvard student

[@pranavpattar-qn5pu]

but they still make less than perhaps people from other colleges???

[@NormalHuman1..1]

​@@pranavpattar-qn5pu they asked them not because they're going to give them really that money. They asked them as if they're the whole society to see if they're going to think as the way they learned all these years . maybe ofc .

[@BillPark-ey6ih]

Except harvard grads are take up negligible portion of the society that 200k for each won't cause noticeable inflation that brings purchasing power of 200k down to 160k.

[@Mark5ive5]

This is like getting a 200,000 salary and paying $40,000 each year to make sure everyone else is capped at $150,000. Over ten years that is $400,000 you walked away from.

[@kcnl2522]

You think harvard graduates with their rich parents give a single F about 400k?

[@sparemedat5453]

@@kcnl2522not all are that rich

[@adragonro]

Over 100 years its 4Million​ @@kcnl2522

[@christophermorales1509]

Already rich or will have more than enough is one good point. The question also only asked “upon graduation” so unclear what cumulative difference they thought they were choosing.

[@HornetCucumber]

Imagine this scenario. If you are better than others then top companies will hire you, you get best of everything, government wants you with them to make policies. If you are last, then there is some problem in you. You might have a hbs degree but no future perks out of it. The winner gets all is up there. They don't serve mediocrity up there in the top 1 percent.

[@MLGRDR]

This is what I was thinking but all the other comments seem to be more analytical about the economic value rather than what it says about how well-versed you are in your subject in comparison to others

[@productivityprime]

I think it might be because, even though the nominal money ($200k) is more in scenario B, if everyone else is getting more, then the real value of that money will be less. This is because, everyone will have more money, their demand will increase, which will cause the prices and hence inflation to rise. So, the real value of that 200k would be less. And it might turn out that if enough people are there getting more than them at $200k, the real value of the $160k in scenario A might be of more value/may have higher purchasing power.

[@יובלתל]

I thought like that for a second but then again he said the average salary of the graduates which will have close to no effect. I think it’s what would make myself consider it, such as, being judged for being under standards that were set for these people, so in my conclusion it’s ego of people that proven to achieve a lot making their ego probably also above average

[@Dantm928]

​@@יובלתלMaybe its the other way around? Because thousands of graduates cannot have significantly less income per output collectively by chace so the inflation of the counrty must've been high in condition b.

[@cherifc9391]

That’s not enough to cause any economic shift so no

[@anandghildyal2196]

If I am better paid than others (market rate) then it will look good on my resume. I GET MORE BECAUSE I AM BETTER, therefore pay me some more.

[@Vasco19981]

⁠@@Dantm928 exactly. If all Harvard students are paid like that, by inference you know the rest of the market, and logically it represents the inflation perspective. The scenario A is not about greed vs your peers, it is a logical choice for more value.

[@coachtaewherbalife8817]

I don't tell people my salary, and I don't ask theirs. I'm happy getting more money even if I'm low man.

[@diegoamores9295]

The issue is there’s implied inflation in the question, which they probs considered

[@MrMultiHillo]

Yes, I was about to come here say this too. Perhaps they realized scenario A has better economical scenario overall in society rather than who is ”winning”. Just another ”study” here making economic students stereotypically selfish. But to be fair this same study could be asked from almost any group with this same result for scenario A (but without understanding of inflation etc).

[@DazzledBanana]

Almost a good point… but the hypothetical was for a single class… that’ll hardly make a dent on inflation

[@jakegrant6783]

You make more than the average Harvard graduate or less is probably how the question came across

[@michaelphillips3467]

that’s why he said “all dollars are constant” … to disregard that issue

[@Yopiwastaken]

are u serious

[@user-ti5cw1ug6l]

Isn't money and value relative though? If everyone has more than you then you aren't rich. If everyone has less than you then you are. Also, isn't it quite normal for students to compare with their classmates and direct contemporaries rather than the average of a population or some other far removed statistic? Depending on what is considered, $160K in one scenario may seem more valuable than 200K in another in terms of purchasing power. Ego probably isn't the main thing they were thinking about.

[@Yopiwastaken]

lol are u serious

[@Takoda9721]

Excellent lesson on humility vs egotistical pride! Working for/with people who are better than you is the way towards growth.

[@HistorywithHannibal]

I'd take the 200k. Money is money

[@Justicelfe]

A lot of people at Harvard are rich… even if their income is less than yours, they can ask their parents for more money than you. Most of them could cover that 10k difference with a single phone call to their parents just choose the 200k

[@lraoux]

Would you rather be with a girl who’s a 6 and all your friends have girlfriends who are 5’s, OR be with a girl who’s a 7, while all of your friends have girls who are 8’s?

[@BENNY-THE-DOG]

I'd rather not have a girlfriend if I'm more attracted to my friends then my own

[@lraoux]

@@BENNY-THE-DOG That doesn’t answer the question. I’m curious to know why you couldn’t just replace the term “girlfriend” with “partner,” and then answer.

[@paulnejtek6588]

Scenario a makes sense from the standpoint of one upsmanship

[@antoncigur3727]

They've chosen right. Purchasing power parity wise they are richer with scenario A than B

[@Yopiwastaken]

well no not even close

[@davidradtke160]

Not unless everyone in the example is like the entire population.

[@brayan8346]

They are brilliant, even if it's not intentional. What happens when more money competes for the same goods? Inflation, therefore, the additional pay may not be higher. This on my makes sense in a petri dish.

[@SummerTime-de3sd]

If the economy is paying more for a large group and your the only one getting paid less, then that large group, due to their higher earning has more buying power. Groceries become expensive, cars, property ect. Thats inflation in the sense of higher demand due to higher buying power. So earning less while everyone else more means in every aspect in life, you lose by that small $20k increase, where In the grand scheme of things, since everyone else is earning that, then its a massive thing. It's not so much my win is your loss, it's common sense.

[@CloudCompany-s8r]

They are competitive that's why they were in HBS so u were asking most competitive student advantage over winning it's their nature people and it's okay.

[@Kanishkjee2027]

Exactly , there is huge lack of creativity, in schools teachers deduct marks for steps 😂😂

[@_v2.0]

Would you rather make more than the average Harvard grad or less? It isn't about having a fragile ego or greed. The kids chose correctly. The quality of the average graduate doesn't change. The higher salaries are just inflated. The value of money is relative to the amount of money in an economy. Ppl in the comments are dunking on kids for choosing to have better purchasing power lmao 😂.

[@ramondpederson9570]

Well they need to be making more than everyone else they are supposed to be elite. Why go there for the contacts to come out button barrel?

[@prishsoni1269]

it's about value not amount

[@PaladinLeeroy42069]

I’d pick A just cause the latter is probably a way more stressful position

[@maddmotorz6252]

they dont mention other variables whats the average starting salary.. you always want to be making more than average. if the starting salary is 150k for business schools..then scenerio b of course. this guy is just trying to talk like he has a purpose for being on stage really his just nonsense

[@mjathena844]

Less money but more than others is better than more money but less than others. It wasn't greed or envy speaking. It was basic facts. If everyone makes more than you, the cost of life will go up and now you are broke and below the average. If the opposite happens, you will live above average with less money. It's basic common sense. Harvard students did get it right

[@gastondeveaux3783]

The question was about other students in the cohort, not everyone else in the country. Your premise makes no sense. Inflation is not a factor here.

[@tahaforce7402]

But fr in the first try, i chose 200k, but after i thought a lot, it is better to be on top, but with lower money, you feel me???

[@DeepVoiced]

Money loses value when abundant. If all other students get $220k, your $200k wouldn’t be worth as much. If they all get $150k, your $160k will be worth as much. It’s about purchasing power and the value of the dollar, not the number itself without relating it to the external world. Money is relative.

[@sebiga1207]

Yeah but lets be real the world isn't filled with harvard business school graduates so the loss in purchasing power is completely negligible. Instead the graduates seek the status of being the "best performing graduate".

[@paternyao]

It’s about how they rank & purchase power over competition; not the amount. The top part of Maslow’s pyramid explains that. It’s actually a lot more rational than most people would think.

[@PreciousAyomiposi]

They know inflation is just coming

[@tatiana_7767]

Salary also reflects inflation and economic situation. Thus, $200k a year could be lower than $160k since it is lower than average salary and vice versa. The worth of the money changes under different inflation rates.

[@michaelphillips3467]

he quite literally said “all dollars are constant” bro…

[@aryamore6343]

If everyone else earns more than you, then indirectly your purchasing power decreases. If your salary doubles and rests' salary triples, you would be poor. Harvard students made the right decision.

[@ajzma]

Exactly. I dont know why its so dufficult for people to geasp this basic concept.

[@mango-nz7kp]

They considered inflation which is smart of them

[@vgk9884]

87 percent of them were right as the purchasing power and style of living will be better with option A when compared to the peers. 😂

[@madilynwilson1834]

20k difference is less impactful than 40k loss

[@Devonte-w8o]

Its not enough to change the value of the dollar though

[@lemonstrangler]

but maybe they thought in the context of thats the norm, like everyone else is getting higher pay @@Devonte-w8o

[@TVS...l-_-l...]

Glad...someone finally speaks English

[@lemonstrangler]

exactly what i was thinking. does this professor know about his field ? lol@@TVS...l-_-l...

[@Krucezam]

first they are not smartest but rather privileged

[@stefanokuoimose7991]

🧢

[@NullLang]

lol they admit they're villains

[@smithmark4373]

If you ain't first, you're last - Ricky Bobby (and Ricky Bobby's Dad) Defining attitude of modern economic climate

[@nonamenolastname59]

Thats cuz if u earn more than the entire class of HBS means your somebody and you can go far

[@kiransankarpati]

They did not understand game theory , sunk cost theory , and probably price discrimination too .

[@saakshat__kataria]

The reason behind it is not just about some grand 😂😂. Students imagine a scenario where they accept beginners level salary is 150000 but they are getting more as their skills matter more . 😂 If he say them both of these A and B scenario are happening at the same time, then they would have probably chosen option B 😂 he thinks students are stupid but ourself asking stupid question without elaboration.

[@FAHAD-el6ic]

No, it’s the prestige. It’s the honour. It’s the high end thing that you got . Everything can’t be bought with money.

[@ithrowcardsalex9992]

The value of the dollar changes depending on what those around you are earning. Scenario A. You’re making the most thus you have the maximum amount of purchasing power. Scenario B. You’re making more than scenario A but have the least amount of purchasing power thus your dollar is actually worth less than your dollar in scenario A.

[@Yopiwastaken]

you failed to pay attention both in economics class and to the hypothetical; "all dollars are constant".

[@sterjexiii2416]

I prefer A too

[@HornetCucumber]

If you are in top 1 percent of the class then all top companies want you with unlimited opportunity. If you are last then no company wants you. Maybe inflation is also high so that money is no good.

[@Yopiwastaken]

lol are you serious

[@ahmedxaziz2960]

no they chose the smart move. you knoww money has value, its not just paper. and its just a replacment for rare things that humans value and do trade. if you have more of it then anyone esle than you are on the clear, but if you have it less than other people , you will strugle. no matter what the amount, dollar, millions or billions they are just numbers.

[@lemonstrangler]

yeh thats what i thought. i feel like he didnt give a lot of context, information was missing, yet he blamed the students for getting the question 'wrong'

[@friendsfrenz1944]

that's such 1 dimensional thinking

[@lemonstrangler]

no thats 3d thinking bro @@friendsfrenz1944

[@someonethirsty1957]

He said all dollars are constant. The money a class of Harvard graduates earn is not enough to inflate the currency.

[@TheAsianRepublican]

first, he totally made that incident up. second, the population is not simply your classmates, when you get the $200,000 It's relative value to the entire population

[@ObinnaWGMI]

If the rest make more money, it shows that I am underperforming on average to my peers at that top level, which could also pain a greater picture on the economical value of the dollar. If I make less but over perform against my peers at that level it shows the reverse. It’s not about dollar amount but value, which is based on relativity. 100k was worth a lot 50 years ago because less had it and in turn, it bought you a lot.

[@ExcisionsX]

A lot of people are missing the key word: “on average” which is present in both scenarios. If you’re in group A and are making 160 relative to the AVERAGE of 150, you’d only typically be in the upper 40% or so of class earners if we assume a normal distribution. In group B with your earning being 200 relative to the AVERAGE of 220, I’d assume a similar situation due to the normal distribution curve but just flipped- you’d be in the lower 40% of earners for the class. Bottom line is you aren’t beating everyone in scenario A, and not everyone is better than you in scenario B. With the value of dollar being constant, I don’t see why anyone wouldn’t choose B.

[@blackhax36]

@ExcisionsX You're over thinking this. He explained it to you in the video. They want to make more than the rest of their class. It doesn't matter the amount or the logic. Fundamentally, they are driven by having more than the rest not having more for themselves.

[@Spirited_Away]

See,that doesn't matter... Because 40k a year is a good chunk of money...Even If I'm down 20k from the others of group A I wouldn't be unhappy about it..I can invest and grow it more because I'll be having more than I could If I was choosing B..Besides,being the bottom G in the top 40% club is pretty good for you even in this age inflation...and It's not money that brings happiness but it's what you can do with money that...More money means I can live a bit more comfortably So I guess It's not at all a loss

[@ClifAlegu]

You must be a Harvard alumni

[@utorrent01]

Reduces inflation

[@Fabzil]

It's not stupid, rich only exist if poor also exist. Money is relative to circumstances. Have $2k a month in Central Park will make you homeless. Having $2k a month in South Laos will make you Governor.

[@ProudAmericanEngr]

87% thought it was a trick question.

[@교대치공학]

하버드 비즈니스 스쿨 졸업했는데 저걸 모르면 경제학을 아에 안배운 수준인거지... 이건 경제교육의 문제점을 재대로 보여주는거임. 경제학을 수학적으로만 가르치니까 각각의 이론들이 무슨 의미를 내포하는지 이해를 못하는거임. 시장경제가 원칙적으로 제로섬게임이 아니라는걸 알려줘야되는데 그런 강의가 없지...

[@LGUclan]

If you make more money than everyone else then you have more buying power. Just because in scenario B you make more money, doesn’t been you have more buying power. It’s not about envy or greed.

[@edel257]

I m not surprised at all. They got into Harvard because they were competitive

[@trfrierson]

At certain income brackets that 20 k difference is nothing. It would get ate up in taxes anyway. At 200k you are closer to the tax bracket of 24% threshold. Take out enough pretax and put in a 401k. You will end up taking more home than the 220k because you can work your way back to a 22% tax bracket by pretax takeout😋😝

[@cob4754]

I thought this was another motivational fake story because theres no way 87% choose A. So i looked it up: (Tldr: its only 50%, but its also bad!) This was the question: "Note that prices are what they are currently and prices (the purchasing power of money) are the same in States A and B. A: Your current yearly income is $50,000; others earn $25,000. B: Your current yearly income is $100,000; others earn $200,000." "Results Approximately 50 percent of the respondents preferred a world in which they had half the real purchasing power, as long as their relative income position was high" For those interested, the paper is "Is more always better?: A survey on positional concerns"

[@elonmucks4788]

No actually if more people have more money the money will be less valuable if less people have more money then the money has value smart call by harvard students

[@ajedrezcondaniel4975]

That would apply on a larger scale not on the earnings of just Harvard graduates…

[@coachtaewherbalife8817]

That only applies if the govt prints more money because of the higher salary. To get $200k to have the same value as $180k, the govt would to print an additional 10% over the base money supply. If the govt changes the money supply by that amount, you'd best emigrate.

[@elonmucks4788]

@@coachtaewherbalife8817no it works on every scale but it is virtually smaller

[@Literallyarealhuman]

After graduating from Harvard, I would really hope that I make what I earn that has nothing to do with anybody else, but I know that everybody else will earn a lot because we have the same education

[@XiaoyuLau]

Because they are not idiots and they know what is FUCKING INFLATION😅

[@rupalkumar4464]

If you're taking the perspective of "Having" and wanting to maximise welfare with the subset, any rational economist would choose option B as you are maximising your own position. Economist are not all the same, the elite who comes to these top-tier schools are also more prone to ideology and left-leaning bias, this is supported by the fact economics is very much intertwined with politics in today's age.

[@Spirited_Away]

Nah bruh...Hell naw...I ain't dippin that extra 40k to make my ego boost more..Cam you imagine how many fine things I could do with that money? I can feed the homeless,donate to charities,care for animals,see girls twerk and what not...

[@nhiquynh6046]

They aren't stupid. Money isn't valued by the number but by its purchase power. let's say, you earn 4$ and a burger costs 5$, and you're hungry. If you earn 3$ and the burger costs 1$, you will be delighted. If most people make a certain amount, that amount seems to be nearer basic living standard or average income. So if my income is lower than the average income, I could be in trouble, and vice versa.

[@Yopiwastaken]

lol are you serious??

[@dayoonman3264]

I'd pick B knowing that i chose a degree/field that paid my cohort so much money, and that there's room for growth and opportunity to increase my salary. Now, if my degree was in sociology, I'd be a little puzzled.😂

[@marcusboys]

Scene A: The superiority amongst cohort Scene B: Most suffered amongst with no-voice rights 😅

[@rizmacadillac]

I believe there are all sorts of trick questions and weird and unusually ways of looking at life that can deceive us. Surely a Harvard Graduate who is in the Business School is smarter than that on reflection. If you really think about earning $160,000 vs $200,000 there is no contest.

[@octavioavila6548]

I’ll take the 200k. Become friends with the 220k’s and benefit from their wealth through my friendship. Maybe we can invest together in some venture. Maybe some of them can be my customers. Maybe I can sell to them

[@trollsearching8968]

Or they realized that the money they are getting paid has to come from somewhere. How did it just all of a sudden jump to $200,000 and $220,000. What changed about the product or service they all produced that warranted that. Since you give no variable reason for why, they probably realize that is exploitation from all others in the collective of economic production and chose to go with the lower numbers for them and their colleagues.

[@mmateeenulzeeshan5150]

He is manipulating u guys If u understand the economics u can easily catch him😅 Try ...... For moment!!

[@johnsmiff8328]

The assumption that people going to Harvard business school are brilliant is a big leap. They have some detailed technical knowledge, but they've also been groomed to ideologically justify behaving like a psychopath with large sums of money..

[@dougpatterson7494]

Assuming these students would be living in similar areas 160k vs others making 150k annually might actually be better. When everyone has more money, inflation reduces the relative value of money.

[@Dantm928]

This is straight up dumb.... they chose a not because they cannot handle sb being being better off. Currency isn't worth anyhting itself, it is worth what people believe it is worth, in that sense if the group earns the same value for the same output then 200k in b must worth the same as 150k in a. So you're actually worse off by choosing b not just comparitvely but also actually worse off compared to a.

[@bethmottweiler3515]

Value is relative. If you have the least, but for some reason, all salaries are higher, this may reflect trends of inflation, more money in the economy, etc. In any case, your money may simply be worth less. It is true that many people in this major are self-motivated, but it's also true that he failed to include the magic words: ceteris peribus (holding all else constant). These are people who will be wondering the reason for the higher wages. For instance, if you frame this in a real economics problem, such as the incoming of high skilled immigrant labor, many will opt for the 200k, because they understand the reason why.

[@usermissingonearth]

Because it will increase cost of living and the 200k dollars relative price less than 160🎉

[@jeehoichan8043]

I mean it depends. Is ur pay higher than the rest because you are doing something that is more important which others can’t? So in that way 160k may have more leverage than even 200k because it shows that you’re more important to the workplace, thus you can probably negotiate for a higher salary if switching companies.

[@jaysonmarquez7524]

Why would I want to create a class of individuals with greater purchasing power than me? I’m taking the 160k as well.

[@christophermorales1509]

It’s worth at least $40k to them to feel superior to their classmates. Same reason people buy jewelry or plastic surgery. So what? Don’t question how they spend their hypothetical money.

[@wessionaldo6853]

I'll say I will choose the second option if all you students give me 10k from the 220k you get otherwise I am gonna take option A and you will get 60k lesser 😂

[@candacephuong]

My mom says the importance is: can you handle the job at $220k vs having the the job at $160k as a new grad?

[@isaacliu896]

Well here's the fix: just think about how much money people that didn't go to Harvard are making!

[@jackdonovan554]

Human evolutionary growth is dictated by the genetic program od advantage and disadvantage. All seek to gain advantages over their environment, as well as to avoid disadvantages from their environment. Humans, like their ape ancestors, do not like feelings associated with disadvantage and enjoy the feelings of gaining advantage. This is evident in the social environment, where this program dominates every interaction. If humans feel disadvantaged by another, they will respond by attempting to cause them disadvantage. Likewise, those beloved are given advantages by those who feel advantaged by their relationship. It's quite a simple program - yet it's what drives every species, and is from what all human emotions have evolved.

[@bidhanchandrasahoo5830]

It's funny how people who are not even in the top 10000 universities are laughing at Havard grads. Bro thay are in Havard for a reason .They choosed it cause that's how the economy works. I mean It's better to be the king of Hell ,rather than being a servant in Heaven

[@RajaBoppana]

Hierarchy of needs clearly mentions this And MBAs know this They chose wisely Remember you are in US the is no absolute poverty or absolute rich There are only relative poor and relative rich

[@briansardinas1359]

Guys the question was posed on the condition that "that all dollars are constant". There is no inflation in this hypothetical. The underlying assumption is that the wage difference is due to increased productivity. Stop justifying their dumb answer.

[@vamsikrishna8793]

Companies are ready to pay the majority of cohort 220k means the global economy is suffering Inflation. His point will be valid when the prevailing situation in both the choices are the same.

[@F-pi4rc]

What I got from this is they’re actually smart. It doesn’t matter how much ur being paid if you’re being underpaid when everyone else’s pay is inflated, you’re gonna have to pay society’s inflation prices due to excess of money and less of supply so you’re not gonna be able to get the stuff necessary compared to others. Obvs I’m talking from the perspective that the whole cohort is in this case the whole society but u get the gist.

[@josephbrademeyer700]

This guy doesn’t understand simple economics 🤦🏻‍♂️

[@lemonstrangler]

i think they interpreted the question differently tho

[@AhsanRafi-nk8lo]

I don't think you guys realise this. Envy isnt their only deciding factor. There is also inflation. If everyone makes more than you then no matter what you earn, inflation will catch up on you.

[@lilbrusselsprout8261]

If inflation is held equal that of course choose 200k. But there is an implication that "everyone" is making 220. So you are making below average. In the other scenario 160k is above "everyone" therefore has more relative buying power.

[@jackthorn9845]

I think the question is about inflation. If everyone makes less, prices go up slower, and if everyone makes more, prices rise faster.

[@davidradtke160]

Smart doesn’t mean they can outthink or overcome their feelings…that’s why few people beat the market. It’s hard.

[@NinjaFrog-nr3bs]

So the whole point is that they are making more so they are considered more valueable in their field to another? I didn't even take it that way, I made the assumption initially that they were owning a business and more was given to those below to show sacrifice? But I am not a business person this may be a horrible choic. I just know when I heard about Nintendo of Japan, the president decided, when they were hurting, instead of firing, he engaged more in the company, money wasn't so well, instead of raising his salary, he gave and took alot out of his own to bring to his workers it made it seem like yes he is making the decisions, but attempting to bring him to their level, I would love to learn more on whatt I am missing on this video

[@divyajohn8936]

Its all about doing relatively better than peers

[@munirajam8582]

I choose B' , Means I may be smarter than Harvard University Students 😅😅

[@Apologis_STIK]

Me like, hell yeah I'd choose A. It's my kingdom as a king is enttile to deploy everything and everyone under my terms for my own terms. And make more for to be my terms 😂

[@deadplex3995]

Reputation is more important than money

[@Yopiwastaken]

are you poor

[@singingLeaf123]

There is always gonna be someone richer than you, just cant keep buying stuff thinking your happy.

[@zuckerseife]

What a bs explanation. This study was actually done in the general population as well and people chose the same answer, because evolutionarily it’s about being comparatively better to others to secure a mating partner.

[@zubairkhankharooti3621]

Some how my mind is telling me to chose 160k.. Bro this life is all about comparison You do thing not because you will get s goid life But just because you wanna be the king in the room You cant be king if someone us better then you Thats how humans think