Israeli Kindergarten. Dual-income couples often arrived late to pick up their children. As a result, the kindergarten implemented a rule that parents would face a fine if they were late; however, even though this introduced a penalty system, it also led to more delays in pickup times. By replacing feelings of guilt with money, paying a fee for being late became the new norm. After recognizing the mistake and removing the fine system, what happened? More parents started arriving late. When money becomes involved, the exchange of value fundamentally changes the nature of the relationship. And once that change occurs, it doesn’t revert. - Joseph’s “just my thoughts”
Credit not only reduces costs and expenses, but it also boosts revenues; none of the economic resources compares to this. According to World Bank senior researchers Stephen Knack and Philip Keefer, a 10% increase in the confidence index would lead to an average annual economic growth rate increase of 0.8%. Individuals who lack trust and only seek financial gain are more likely to be ruined by money. While credit is an abstract concept, we must not forget that it remains one of the few valuable assets influencing our lives. - Joseph’s “just my thoughts”