Scarcity: How We Fall into Poverty and Busyness

Cognitive Bandwidth is Extremely Valuable

Poverty and busyness are not simply due to a lack of money and time, but rather a deficiency in mindset and capability.

Cognitive bandwidth is extremely valuable, and poverty and busyness consume it. A lack of cognitive bandwidth leads to a narrow mindset and neglectful behavior, creating a chain reaction that results in greater troubles.

People Often Underestimate the High Returns of Conserving Bandwidth

Even the smartest individuals often underestimate the importance of leisure.

Due to resource scarcity, we must focus. However, the tunnel vision that comes from focus can cause us to overlook many things. Science has shown that the burden of cognitive bandwidth can lower a person's IQ.

Our inability to cultivate leisure stems from being focused on the tasks that must be completed in the present, making it difficult to anticipate all possible future events.

To Break Free from This Dilemma

• 1. Make important tasks that should be done easier to accomplish. For example, those important tasks that lie outside our immediate view need to be repeatedly reminded.
• 2. Conserve cognitive bandwidth, such as making "neglect" the "default." For instance, the Jewish Sabbath is a uniquely wise intervention to cope with scarcity. The Sabbath is an ancient tradition where people do not work, send emails, write, cook, or even drive.
• 3. Start acting when resources and bandwidth are abundant, applying cognitive bandwidth to what truly matters.
• 4. Transform fragmented but necessary reminders into one-time actions. For example, enroll your child in a weekly activity to ensure you have dedicated time to spend with them each week.
• 5. Maintain slack to handle unpredictable events.
• 6. Properly divide tasks into manageable sizes, breaking long deadlines into incremental milestones.