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A well-known example of a contrasting mindset is fixed versus growth. A mindset refers to an established set of attitudes of a person or group concerning culture, values, philosophy, frame of reference, outlook, or disposition. [1] [2] It may also arise from a person's worldview or beliefs about the meaning of life. [3]
[citation needed] In 2012, Dweck defined fixed and growth mindsets, in interview, in this way: [needs update] In a fixed mindset students believe their basic abilities, their intelligence, their talents, are just fixed traits. They have a certain amount and that's that, and then their goal becomes to look smart all the time and never look dumb.
Psychologist Carol Dweck distinguished differences between the growth mindset, the idea that ability is malleable, and the fixed mindset, the idea that ability is fixed. People who incorporate a growth mindset on a certain task tend to have higher motivation. [43] [44]
Students followed throughout their middle school careers showed that those who possessed growth mindset tendencies made better grades and had a more positive view on the role of effort than students who possessed fixed mindset tendencies with similar abilities, two years following the initial survey. [10]
Zero-sum thinking perceives situations as zero-sum games, where one person's gain would be another's loss. [1] [2] [3] The term is derived from game theory.However, unlike the game theory concept, zero-sum thinking refers to a psychological construct—a person's subjective interpretation of a situation.
Economic evaluation of time activates the human motivation system that is associated with self-focused values. People with an economic mindset therefore tend to prioritize personal achievement more than the wellbeing of others and spend time in ways that maximize personal gains. This tendency negatively contributes to well-being. [4]
Financial products that typically come with fixed interest rates include: Traditional certificates of deposit. Fixed-rate mortgages. Home equity loans. Personal loans. Auto loans. Small business loans
This is an accepted version of this page This is the latest accepted revision, reviewed on 29 January 2025. Economic system based on private ownership This article is about an economic system. For other uses, see Capitalism (disambiguation). "Capitalist" redirects here. For other uses, see Capitalist (disambiguation). Part of a series on Capitalism Concepts Austerity Business Business cycle ...