|Can You Resist?|
How important is the ability to delay gratification? DIY Investor would argue that its importance has increased over time with the advent and widespread use of credit cards along with the increased bombardment of ever clever advertising. I can't say that I've seen it, but I'm sure someone has worked up the number of advertisements we see within the first 15 minutes of logging on in the morning. Delaying gratification isn't easy; and, as Mr. Posada says at the very end, it is undoubtedly an important factor in the debt crisis the U.S. is now experiencing.
Follow Up Questions
This experiment has always fascinated me and suggested follow-up questions. I wonder if you do this with 100 kids who have older brothers and sisters, if it makes a difference compared to those who are an only child. After all, with older brothers and sisters you have to learn to wait for the things you want.
I wonder about the influence of parenting styles. To me, there are two types of parents. Johnny climbs up on the chair, falls off, and gives out a banshee scream and one type of parent runs over, scoops him up, scolds the chair, etc. The other expects little Johnny to pick himself up and take care of himself, reasoning that he got himself into the predicament. An aside: guess which family votes Democrat and which is Republican?
I also often wonder why a presenter, like Mr. Posada, in a presentation like this doesn't mention the person who originated the experiment.