With Valentine's Day just around the corner, I thought you'd like some thoughts on love and relationships from that great relationship expert -- Ben Stein.(Huh?)
Yes, that Ben Stein, economist, attorney, writer, former television show host and sometime character actor on the classic "Ferris Buller's Day Off."
Stein cleverly offers a number of concepts of love based on economics in a recent New York Times article. Although I wouldn't use exactly the same words, here are his tips:
The returns in love situations are proportional to the amount of time and devotion invested. The amount of love you get from an investment in love is correlated, if only roughly, to the amount of yourself you invest in the relationship.
High-quality bonds consistently yield more return than junk, and so it is with high-quality love. Stay with high-quality human beings. Once you find you that are in a junk relationship, sell immediately. Junk situations can look appealing and seductive, but junk is junk.
Research pays off. An appealing and seductive exterior can hide the most danger and chance of loss. For most of us, diversification in love, at least beyond a very small number, is impossible, so it’s necessary to do a lot of research on the choice you make.
In every long-term romantic situation, returns are greater when there is a monopoly. If you have to share your love with others, if you have to compete even after a brief while with others, forget the whole thing.
The returns on your investment should at least equal the cost of the investment. If you are getting less back than you put in over a considerable period of time, back off.
Long-term investment pays off. The impatient day player will fare poorly without inside information or market-controlling power. To coin a phrase: Fall in love in haste, repent at leisure.
Realistic expectations are everything. If you have unrealistic expectations, they will rarely be met. If you think that you can go from nowhere to having someone wonderful in love with you, you are probably wrong.
When you have a winner, stick with your winner. Whether in love or in the stock market, winners are to be prized.
Have a dog or many dogs or cats in your life. These are your anchors to windward and your unfailing source of love.
Read the complete article here.
