The Spread of Zero Sum Mindsets
“The spread of zero sum mindsets But it gets even worse. As we shorten our time horizons, we become prisoners of a zero sum mindset. If we only focus on the short-term, we must accept things as they are. There’s a given set of economic value – it’s a fixed amount. If we only have a fixed amount of economic value, then we start to focus on who will get what share of the pie. If you get a larger share, then by definition I’ll get a smaller share. You win, I lose. If I win, well then you must lose. Creating new economic value takes time and requires a longer-term horizon. A positive sum view of the world, one where we can increase overall value by working together, only becomes viable if there’s time. And time becomes much too uncertain when risk and return perceptions magnify risk and discount returns. Here’s the really bad part. This zero sum mindset folds back on our perception of risk and reward and the shortening of our time horizons. If there are only a fixed set of rewards, then we must move quickly to grab our share. We have no time to lose. Our time horizons become even shorter.”— Edge Perspectives with John Hagel: Cognitive Biases in Times of Uncertainty
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