GMR 153: How a Scarcity Mindset Harms You

The scarcity mindset believes there are limited resources and
inequality in possession of those resources. It further believes
that for one person to succeed, someone must lose. In this
episode of GMR, we reveal the truth about the scarcity mindset
and why it isn't to your benefit to embrace it.


Show Notes


The Scarcity Mindset


The scarcity mindset is the belief that there
will never be enough — whether it's money, food, or something
else entirely — and as a result, your actions and thought stem
from a place of lack. The belief that there are limited resources
and if you have something, it means you’ve taken it off the
market and taken someone else’s ability to have it. If you earn
money, that’s money that I can’t earn. This is a false mentality.



Good | Cheap | Fast


The wealth of the world


1% of people own 44% of the world’s wealth...


56% have less than $10,000 in wealth.


This doesn’t take into account the fact that anyone can produce
value out of nothing. Just because “anyone” can, doesn’t mean
everyone will. But we want to encourage people to create, we want
to incentivize people to produce.


Changing Terms: Owns to Manages


Jeff Bezos


Warren Buffet


Elon Musk



Musk, Buffet, and Bezos have an incentive to serve people… they
increase as others increase.


Bezos has a direct incentive to serve the masses, if he’s
efficient, he can hire more people, sell more products (to people
who want to buy them), and he’ll personally increase in wealth.


Musk is doing much more to increase the likelihood of safe
autonomously driving vehicles, or highly efficient batteries for
electric vehicles than a government organization, or an
individual who is not personally incentivized to serve others.


The wealthiest people have 90%+ wrapped up in their companies,
which they manage.


Two other options available:


1. Have the government manage everything


Elected officials have very little incentive to be efficient and
effective in their management. In fact, there’s a huge incentive
to be corrupt, take bribes, and benefit their friends and family
instead of the masses of people.


2. Re-distribute all the current wealth


Good managers will increase, while the poor managers will
decrease.


Within a short period of time, wealth will be increased by those
who manage it well, while decreasing for those who manage it
poorly.




Resources


Beta Course Application
Debt tools and other free resources -
https://leosabo.com/resources
David’s website - www.stewardshippastors.com