Zero sum era – The daily blog of behavioral and cognitive economics

Welcome to the Zero Sum Era. Now How Do We Get Out?

My grandfather’s idea of an Easter egg hunt involved hiding money in colorful plastic eggs sprinkled around his house on Long Island. Most held coins, but there was always one with a crisp, new $100 bill. My cousin, Billy-O, and I were the only players. We were usually playful partners in mayhem but as competitors, we took on every hunt with gusto, flipping over cushions, throwing open cabinets, knocking each other aside until, without fail, Billy-O found the $100. The first time he won, I fought back tears. But after a few years of losses, I exploded. “It’s just not fair,” I yelled. “Life’s unfair,” my grandfather told us. “You win or you lose.” ….[READ]