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Can You Improve Your Life With Economic Theory And Practice?

Posted On : Aug-09-2010 | seen (352) times | Article Word Count : 514 |

One latest attempt at connecting the economic theories with problems young people are bound to face in life was Clayton Christensen's commencement speech at Harvard Business School. Addressing the class of 2010, he made a case for careful planning of what the purpose of one's life is and allocating limited resources in such a way that it promotes this goal.
There is a period in most people's lives when they are hungry for knowledge and experiences of their older friends. It comes typically after they turn 20 and the prospect of graduating beings to loom large on their until now mostly carefree modes of operation. They want to know where the key to career success lies and how to be happy as a person. Often, there is some disagreement as to which of these goals is more important and young people are open to suggestions from the outside. They sound most plausible from the mouths of considerable authorities, activists, entrepreneurs, managers or professors. A high point of this anxiety comes when colleges hold commencement speeches during which words of wisdom and inspiration tend to be creatively condensed. Oddly, quite a number of invited guests have a background in business or economics, suggesting there is something in these disciplines that can help outgoing students make better choices in their future lives, not just careers.

One latest attempt at connecting the economic theories with problems young people are bound to face in life was Clayton Christensen's commencement speech at Harvard Business School. Addressing the class of 2010, he made a case for careful planning of what the purpose of one's life is and allocating limited resources in such a way that it promotes this goal. He quoted several economic notions to support his ideas, but did that in a creative, non-literal manner, refraining from drawing direct parallels between two separate spheres.

However, his view is strongly rooted in economics. He propagates a strongly analytical attitude to life, highlighting the need for detailed scrutiny and ongoing assessment of how things go. Basing his reflections on own experiences, he argues that investing time in careful planning of what role there is to play for a person in life yields better returns than a more opportunistic approach. This dedication to a goal, be it a family, a profession or a cause, is tinted with economic efficiency and, despite the professor's assertions to the contrary, may be a reason for living a life that is rather shallow and predictable, closed to change and opportunity. Organizations may benefit from straitjackets that ensure discipline and concentration on achieving targets, but doggedly staying on one track in life can prove hazardous and dogmatic.

Also, the idea of carefully allocating resources, time, money or talent, to different initiatives in people's private lives with greater skill sounds suspicious. It interplays with the overall economic drive to optimize everything, propagated in corporate training programs, but it is doubtful whether people need to maximize their free time or domestic reality, from raising children to operating a webcam. What works well in an organization or in a workplace does not have to apply to individuals who should be invited to experiment, waste and learn on their own mistakes. Urging others to bring economic logic into their everyday choices violates a rich culture that may be imperfect and inefficient, but makes most people feel at home, comfortable in their own environment.

Article Source : http://www.articleseen.com/Article_Can You Improve Your Life With Economic Theory And Practice?_28566.aspx

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I am a web designer and a passionate writer. I write articles and PR news about corporate training and business education. I am also a computer specialist writing about accessories like a mini mouse and a webcam.

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Category : Finance : Finance

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