The Mindful Wealth Podcast12 Okt 2022

Scarcity Mindset

What is a “scarcity mindset”? Where does it come from?

Are feelings of scarcity cultural, psychological, economic? It’s not always easy to discern.

In this episode, Terrie and Jonathan unpack what scarcity mindset feels like, where it comes from, and what steps might be taken to counter it at a personal and wider level.

Don’t miss this!

What we learned from Terrie and Jonathan in this episode:

- What does it feel like to have a scarcity mindset?

- Scarcity Mindset, Social Status, and Inequality... how are they related?

- The true nature of global inequality.

- The arguments about Piketty’s book and Darwin economics.

- How to bridge the gap between meritocracy and scarcity mindset.

- Is there a trade off for everything?

Success Quotes:

“The reality is, everyone alive in the US and Canada today is incredibly lucky. We would all prefer being here than anywhere 150 years ago.” -Jonathan DeYoe

“It's the fish not being aware of the water, because something allows all of those proceeds to go to the very top.” -Terrie Schauer

Timestamp:

00:00 - Intro

01:17 - Jonathan describes what it feels like to have a scarcity mindset.

04:26 - Terrie and Jonathan discuss the correlation between a scarcity mindset and low social status.

10:42 - Does the culture reflect and reinforce a scarcity mindset in people affected by it? (... a look at the true nature of global inequality.)

14:37 - Terrie and Jonathan talk about the level of inequality based on Piketty's book. (... Is it a problem of meritocracy?)

19:19 - Is the world a more meritocratic place now than it was years ago? (... let’s hear about Darwin economics and the arguments that Piketty’s R is greater than G.)

27:01 - The meritocracy for a common man.

30:06 - Can we bridge the gap between meritocracy and scarcity mindset? (... let's listen to what Jonathan has to say.)

35:29 - Jonathan shares a very interesting topic about trade offs.

38:27 - Outro

Connect with us:

Jonathan DeYoe - Money Philosopher LinkedIn: https://www.linkedin.com/in/jonathandeyoe/

Terrie Schauer, PhD - Author of Mindful Landlord LinkedIn: https://www.linkedin.com/in/terrieschauer/

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