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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.
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]
A growth mindset, however, is about embracing the process of learning and building skills—even knowing when to pivot. We can start by talking to ourselves compassionately, as we would a friend.
Golden, the author of Stage (Not Age), takes the learning mindset even further. A former partner at a venture capital firm and manager of investor relations at Genentech who took a long career ...
Growth mindsets are characterized by the belief that talents and abilities are things that are developed through effort, practice and instruction. Individuals with growth mindsets feel that they control their success, rather than external forces, so they are better able to problem solve and persist through setbacks.
Therefore, it's important to approach the Vanguard S&P 500 Growth ETF with a long-term mindset and the understanding that even the best companies suffer brutal sell-offs.
For example, the lump of labour fallacy refers to the belief that in the economy there is a fixed amount of work to be done, and thus the allocation of jobs is zero-sum. [18] Although the belief that a resource is scarce might develop through experiences with resource scarcity, this is not necessarily the case.