Don't Follow Your Passion. It Might Make You Broke and Miserable
With Amos Tversky and others, Kahneman established a cognitive basis for common human errors using heuristics and biases, and developed prospect theory. He was awarded the 2002 Nobel Memorial Prize in Economics for his work in prospect theory.
Currently, he is professor emeritus of psychology and public affairs at Princeton University's Woodrow Wilson School. Kahneman is a founding partner of The Greatest Good, a business and philanthropy consulting company.
I think it’s not always right that people should follow their passion. There is a questionnaire that people fill out just before they enter college that has been going on for many years—and for many years people are asked the question of how important are various aspects of your life, for example, "How important is it for you to make a lot of money?"—and people who say that it’s very important to them actually make a lot of money.
I mean, 25 years later they’re a physician, every point on the scale is like worth $15,000 and I'm embarrassed to say that married women who don’t work every point on the scale are worth $12,000 for household income. But one aim is really not good to have, and this is to be a performing actor. To be a performing artist if you have that aim 25 years later you’re likely to be quite miserable, actually. So I wouldn’t follow your passion necessarily—it depends on what your passion is.
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