[goodsamaritan]

Cliff Notes (Speaker's ideas and conclusions, not mine):

We live in a world with a lot of choices. There are good and bad consequences to this. The bad consequences are:
1. Choice paralysis: So many choices that you are unable to decide and end up doing nothing. Anectodote: When people must choose between 50 pension plans instead of 5 plans, their participation rate drops even though it is clearly within their interest to participate.
2. Opportunity cost: Even when you are doing something good, you are thinking about what else you could be doing. Anectdote: New York city couple sitting on the beach thinking about how they are missing out on a good parking space in front of their building.
3. Increased expectations --> lower satisfaction. If you get anything less than perfection nowadays, you are pissed. Int he past you had low expectations and were more easily satisified.

Conclusion: Rich people have too many choices and are worse off as a result. Poor people have too few choices. If the rich people shift their choices to the poor people, both parties would be better off.