25/06/2009

Interdisciplinary Post: Psychology/Economics Hypothesis of the Day

Folk psychological taxonomies know of a type of person that never gets anything done because s/he's always daydreaming. This is seen as a problem. In the words of the Everly Brothers: "Only trouble is, gee whiz/I'm dreaming my life away". The common view on this phenomenon is that these people are more or less incapable of getting stuff, such as a proper career, done. Here's an alternative/supplementary view: For accomplished dreamers, the opportunity costs of not getting stuff done are low. If you're really good at phantasizing about being rich, why take the trouble and slave away all day to make it to the top?

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