Connect with us

Finance

When to Turn Off Your Head While Studying

Published

on

Educated people who have a large body of knowledge are often affected by the danger of “thinking too much”. Knowledge workers, such as students, fit perfectly into this category and are therefore particularly vulnerable. Instead of relying on their feelings and trained instincts, they distrust their first impulse and retreat into the world of logical thinking. Unfortunately, sometimes that’s not the best way.

But what actually happens when too much thinking blocks action or leads to wrong decisions?

Dobelli describes it like this: “If you think too much, you cut off your head from the wisdom of feelings.” And further: “Emotions arise in the brain just like crystal-clear, rational thoughts. They’re just a different way of processing information than rational thinking—a more primal one, but not necessarily a worse one. Often even a better one.”

The only question is: when should you think and when should you trust your gut feeling?

When Is It Better to Turn Off Your Head

In head-to-belly duels, there is no clear favorite to be preferred in any given situation. It’s always a question of weighing things up. But there are rules of thumb that can make your decision easier and empirically proven areas in which you should rather listen to your feelings and avoid long thinking.

I have put together five examples from everyday life for you.

1. With Practiced Motor Skills

When you’re doing physical activities like walking, driving, or writing, it’s best not to think. At least not through the physical movement itself. Your legs almost automatically sit in front of each other; you clutch, shift and blink on autopilot; and your fingers will find the right spots on your keyboard by themselves if you’ve rehearsed the movement often enough. Thinking for a long time only blocks this process (see dead centipede).

2. For Routine Tasks

Intensive thinking can also become a problem with more complex movement sequences or mental work, which are part of your fixed routine tasks. Your thoughts then sabotage the intuitive solution finding and prevent you from working efficiently. Example: If you have already used a written phrase 100 times and know that it works in your text, you should use it again at the appropriate point without thinking about it for too long. If you have already solved 100 math problems correctly with a formula, you should not question your approach to problem number 101 – just act.

3. In Matters of Trust

For decisions that our Stone Age ancestors were faced with, it is advisable to listen to your gut feeling. These include, for example, fleeing when danger is imminent, evaluating food, and choosing friends or confidants. For these situations, human evolution has developed heuristics (Dobelli: “thinking shortcuts”) that have become second nature to us and are clearly superior to rational thinking. In other words, if you’re crossing the street and a bus is coming your way, you should flee instead of calculating the braking distance first.

4. When You Have No Control

Every one of us, at times, finds ourselves in situations that are partially or totally beyond our control. We then have no or only limited influence on the things that will happen. In such cases, many people either imagine that they can control the situation (despite all the facts) or paint the darkest scenarios in their minds. Both mean that our situation does not change – because we cannot control it anyway. For example, when your get help from an essay writer – Hand Made Writing.

The only thing that happens is that we lose energy and attention to possible actions because we use resources to think, although this activity is completely pointless. Therefore, worry less about situations that can be influenced by other people, such as before an oral exam or a presentation

5. When You’re in the Flow

Do you know those phases in which it just works? One success chases the next; everything seems to be working out for you. You are motivated, and productive, and could go on for hours. You are in the flow. This phenomenon really exists. It’s the best working condition that can happen to you. However, if you stop your flow immediately and fall into old, bad habits.

If you want to fall behind, all you have to do is think about it. As soon as you try to analyze your energy and focus levels, your productive state collapses. Incidentally, the opposite often applies to negative trends: If you become aware of a streak of bad luck and convince yourself that things are not going well for you, this tendency will increase. So next time you find yourself in the flow – don’t think about it. Just enjoy the positive development or accept the downward trend as a natural fluctuation. This is the best way to surf the wave.

Conclusion

thinking is difficult. But sometimes this thinking is the wrong approach and stands in the way of your personal success. However, not thinking can often be even more difficult – in some cases, it is even the most difficult thing in the world.

People who have been trained to think logically and continuously – and you’re very likely to be one of them – tend to use their heads too much. They waste great opportunities because they don’t dare to listen to their gut feeling and follow their intuition. I wrote this article for you so that this doesn’t happen as often in the future.

But don’t get me wrong: thinking is good. There are enough dull and unreasonable people who make stupid decisions on a whim and then celebrate themselves for it. You shall not become one of them.

You just can’t get in your own way because you’ll miss the opportunities when you should turn off your head and turn on your feelings. Allow yourself to feel a little more. Trust your instincts a little more and don’t ruin the beautiful things in life. The bottom line is that it has nothing to do with intelligence.

Continue Reading
Comments

Finance

Young workers have been hit hardest by COVID fallout

Published

on

migrant workers
photo: UN Women/Pornvit Visitoran

The number of young people globally who can’t find a job this year is set to reach 73 million – that’s a full six million more than before COVID-19 – the UN labour agency said on Thursday.

According to the International Labour Organization (ILO), the pandemic has caused many additional problems for 15 to 24-year-olds who’ve experienced “much higher” unemployment losses than older workers since the global health emergency was declared in early 2020.

Young women have struggled more than their male counterparts to find work, while Arab nations are expected to see the highest levels of youth unemployment by the end of the year, compared to the global average.

“We know that the COVID-19 pandemic has wreaked havoc on youth labour markets around the world,” said Martha Newton, ILO Deputy Director-General for Policy. “It’s exposed a number of shortcomings in the way the needs of young people are addressed, especially the most vulnerable first-time job seekers, school dropouts, fresh graduates with little experience and those who remain inactive not by choice.”

Speaking at the launch of ILO’s report, Global Employment Trends for Youth 2022: Investing in transforming futures for young people,  Ms. Newton said that the share of youth not in employment, education or training in 2020 rose to 23.3 per cent.

That represents an increase of 1.5 percentage points from 2019 and represents a level not seen in at least 15 years, the ILO report found.

“This group of young people are at particular risk of seeing their labour market opportunities and outcomes deteriorate also over the longer-term as ‘scarring’ effects take hold,” it noted.

Gender inequality

The report’s takeaways include the worrying finding that young women are worse off than young men when it comes to finding a job. This year, fewer than three in 10 young women globally are expected to be in work, compared to well over four in 10 young men.

“The gender gap, which has shown little sign of closing over the past two decades, is largest in lower-middle-income countries, at 17.3 percentage points, and smallest in high-income countries, at 2.3 percentage points,” the ILO report stated.

Only high-income countries on course to recover

Latest labour data scrutinised by ILO also indicated that only high-income counties are likely to see a recovery in youth unemployment levels “close to those of 2019” by the end of this year.

In lower-income countries, youth unemployment rates are projected to remain more than one percentage point above pre-crisis values.

In Africa, the continent’s youth unemployment rate of 12.7 per cent masks the fact that many youths have chosen to withdraw from the labour market altogether, ILO said. It noted that “over one in five young people in Africa was not in employment, education, or training in 2020, and the trend has been deteriorating”.

The Arab States have the highest and the fastest growing unemployment rate of young people worldwide, projected at 24.8 per cent in 2022. “The situation is worse for young women in the region, with 42.5 per cent unemployment in 2022, which is almost three times as high as the global average for young women (14.5 per cent),” ILO said.

In Europe and Central Asia, unemployment among 15 to 24-year-olds is expected to be 1.5 per cent higher than the rest of the world this year (16.4 per cent compared with 14.9 per cent). Although there has been “substantial progress” in reducing youth unemployment for both women and men, ILO said that the fallout of Russia’s invasion of Ukraine was “highly likely to affect the results”.

While the Asia Pacific region is set to see 14.9 per cent of young workers still looking for a job by the end of the year, in line with the global average, the picture will likely remain worrying in Latin America, where the rate is expected to be 20.5 per cent.

“Historically, young women’s unemployment rates have been higher than young men’s (in Latin American countries), but the crisis exacerbated this trend,” ILO’s report stated.

The picture is radically different in North America, however, where the youth and young adult unemployment rate is expected to be well world average levels, at 8.3 per cent.

Solutions are green and blue

To address the problem, the UN labour agency urged governments to implement of sustainable green and blue (ocean) policy measures. According to the report, this could generate an additional 8.4 million jobs for young people by 2030.

Targeted investments in digital technologies could also absorb high numbers of young workers, ILO maintained. By achieving universal broadband coverage by 2030, some 24 million new jobs could be created worldwide it said, with young workers taking 6.4 million of them.

Continue Reading

Finance

Maldives Can Seize Opportunities to Boost Public Revenue, Make Public Spending More Efficient

Published

on

Maldives’ economy is on the road to recovery following the unprecedented shocks of COVID-19. Key reforms can enhance the quality of public spending, strengthen debt management and debt transparency and collect more revenues to finance the country’s development needs, according to the World Bank’s Maldives Public Expenditure Review (PER) launched today.

Much of the increase in public spending and debt over the past five years has financed investments in basic services and infrastructure, especially housing. While these investments can boost long-term growth, making public spending more efficient, transparent, and targeted towards the neediest groups, it is essential to contain the rapid rise in spending and debt. Such reforms are particularly important because Maldives’ economy is highly vulnerable to external shocks such as a global recession and climate change-induced natural disasters.

“This report supports the government’s efforts to reduce the risks to public finances and ensure that public money is well spent in order to secure a more resilient and prosperous future for all Maldivians,” said Hon. Ibrahim Ameer, Minister of Finance. “It will help us identify where and how public money can be better allocated to achieve the Jazeera Raajje vision, while supporting our ongoing and planned reforms to collect additional revenues.”

The PER identifies key reforms to help Maldives strengthen fiscal sustainability, including raising more revenues – especially from domestic sources – by, for example, reducing the Personal Income Tax threshold and gradually raising both the General and Tourism GST rates. The PER also identifies reforms needed to better manage public debt and guarantees. These include revamping the Fiscal Responsibility Act to include guarantees and more stringent monitoring of fiscal risks from state-owned enterprises.

“The Government of Maldives is already planning many reforms to improve the country’s fiscal health. These include raising GST rates, making public sector wages and pensions more equitable, enacting a Debt Law and revamping the Fiscal Responsibility Act,” said Faris. H. Hadad-Zervos, the World Bank Country Director for Maldives, Nepal and Sri Lanka. “The World Bank welcomes the recent proposed GST reforms and stands ready to support the Government to implement these and further reforms to achieve a more resilient and prosperous future for all Maldivians.”

Many of the reforms proposed in the PER intend to make the distribution of public spending more equitable. In the housing sector, for example, implementing income-based targeting would help improve the financial viability of the Rent-to-Own program while also promoting home ownership. As for public sector wages, the National Pay Commission could consider consolidating or eliminating most of the allowances that drive inequity and cap the overtime allowance. The new Public Service Pay Framework is a key first step in the right direction but strengthening wage bill controls and other related reforms is also needed to ensure that the reform is successful. Finally, reforms to eliminate ‘double pensions’ in the civil sector and improve the coverage of the pension system are needed to ensure that both current and future retirees can benefit from the generous scheme.

The Public Expenditure Review is a core analytical product of the World Bank which assesses the quality of government spending and identifies key fiscal reforms that countries need to undertake to achieve better growth and development outcomes. This is the first PER for Maldives since 2002.

Continue Reading

Finance

Major fall in global food prices for July, but future supply worries remain

Published

on

Food prices dropped significantly in July, marking the fifth consecutive monthly decline since hitting record highs earlier in the year in the wake of the war in Ukraine, the Food and Agricultural Organization (FAO) reported on Friday. 

The UN agency has published its latest eagerly awaited Food Price Index, the barometer that tracks monthly changes in the international prices of five food commodities: cereals, vegetable oils, dairy products, meat, and sugar. 

The index averaged 140.9 points in July, or 8.6 points down from June. The decline was led by double-digit percentage drops in the cost of vegetable oils but also cereals, with the recent UN-brokered deal on Ukrainian grain exports a contributing factor. 

Welcome but wary 

“The decline in food commodity prices from very high levels is welcome, especially when seen from a food access viewpoint,” said Maximo Torero, FAO Chief Economist. 

“However, many uncertainties remain, including high fertilizer prices that can impact future production prospects and farmers’ livelihoods, a bleak global economic outlook, and currency movements, all of which pose serious strains for global food security.”  

In July, FAO’s Vegetable Price Index decreased by 19.2 per cent compared to June, marking a 10-month low. International quotations for all oil types fell, the agency said, with palm oil prices declining due to prospects of ample export availability out of Indonesia, for example.   

Additionally, sunflower oil prices also dropped markedly amid subdued global import demand, despite continued logistical uncertainties in the Black Sea region. Vegetable oil values were also pushed down by lower crude oil prices. 

Black Sea export deal 

The Cereal Price Index also reflected an 11.5 per cent decline last month, though remaining 16.6 per cent above July 2021.  Prices of all cereals in the index declined, led by wheat.   

World wheat prices dropped by as much as 14.5 per cent, FAO said, partly in reaction to the Russia-Ukraine deal on grain exports from key Black Sea ports, and also because of seasonal availability from ongoing harvests in the northern hemisphere. 

July also saw an 11.2 per cent decline in coarse grain prices.  Maize was down 10.7 per cent, again due in part to the Black Sea Grain Initiative and increased seasonal availabilities in Argentina and Brazil. Additionally, international rice prices also declined for the first time this year. 

Sweet news 

The Sugar Price Index fell by nearly four per cent, amid concerns over demand prospects due to expectations of a further global economic slowdown, a weakening in Brazil’s currency, the real, and lower ethanol prices resulting in greater sugar production there than previously expected.  

The downward trend was also influenced by indications of greater exports and favourable production prospects in India. Meanwhile, the hot and dry weather in European Union countries also sparked concerns over sugar beet yields and prevented sharper declines. 

FAO further reported that the Dairy Price Index decreased 2.5 per cent “amid lacklustre trading activity”, yet still averaged 25.4 per cent above last July. 

While the prices of milk powders and butter declined, cheese prices remained stable, boosted by demand in European tourism destinations. 

Mixed picture for meat 

Meat prices also continued the downward trend, dropping by half a per cent from June due to weakening import demands. However, poultry prices reached an all-time high, boosted by firm import demand and tight supplies due to Avian influenza outbreaks in the northern hemisphere. 

The FAO Meat Price Index was also down in July, by 0.5 percent from June, due to weakening import demand for bovine, ovine and pig meats. By contrast, international poultry meat prices reached an all-time high, underpinned by firm global import demand and tight supplies due to Avian influenza outbreaks in the northern hemisphere.  

Continue Reading

Publications

Latest

Trending