Rory Sutherland

It was purely a thought experiment based on the observation that rich people are pretty happy paying for things if a small amount... So when you are poor... a large part of your disposable income is spent on what you might reasonably call utility.

It was purely a thought experiment based on the observation that rich people are pretty happy paying for things if a small amount... So when you are poor... a large part of your disposable income is spent on what you might reasonably call utility.

As you get richer, both attractively and unattractively, as I said, what you might call relative status, in other words, the relative quality of something, matters more than its absolute value. And so if you look at car manufacturers, the top of the range X probably costs 25% more to manufacture than the bottom of the range X, but the sticker price might be doubled.

As you get richer, both attractively and unattractively, as I said, what you might call relative status, in other words, the relative quality of something, matters more than its absolute value. And so if you look at car manufacturers, the top of the range X probably costs 25% more to manufacture than the bottom of the range X, but the sticker price might be doubled.

As you get richer, both attractively and unattractively, as I said, what you might call relative status, in other words, the relative quality of something, matters more than its absolute value. And so if you look at car manufacturers, the top of the range X probably costs 25% more to manufacture than the bottom of the range X, but the sticker price might be doubled.

And that's simply because the people buying from the top of the range are more interested in status and more interested in leather seats and heads-up display and adaptive cruise control. They're more interested in what you might call things you can show off about or things which are just novel. Whereas the poorer person is buying the car as a mode of transportation.

And that's simply because the people buying from the top of the range are more interested in status and more interested in leather seats and heads-up display and adaptive cruise control. They're more interested in what you might call things you can show off about or things which are just novel. Whereas the poorer person is buying the car as a mode of transportation.

And that's simply because the people buying from the top of the range are more interested in status and more interested in leather seats and heads-up display and adaptive cruise control. They're more interested in what you might call things you can show off about or things which are just novel. Whereas the poorer person is buying the car as a mode of transportation.

It's closer to the economic idea of utility. And consequently, it struck me that government should play the same trick that car manufacturers do, which is to say, yes, you pay a lot more tax, but in return, you get certain privileges. You get certain advantages. Now, By the way, the evidence that something of the kind, which is that if it was simply reframed with a thank you,

It's closer to the economic idea of utility. And consequently, it struck me that government should play the same trick that car manufacturers do, which is to say, yes, you pay a lot more tax, but in return, you get certain privileges. You get certain advantages. Now, By the way, the evidence that something of the kind, which is that if it was simply reframed with a thank you,

It's closer to the economic idea of utility. And consequently, it struck me that government should play the same trick that car manufacturers do, which is to say, yes, you pay a lot more tax, but in return, you get certain privileges. You get certain advantages. Now, By the way, the evidence that something of the kind, which is that if it was simply reframed with a thank you,

So there's an experiment from Singapore, which I think was adopted in the UK by a housing association which had trouble getting people to pay their rent on time. And one of the most – they tried a variety of behavioral economic interventions. But one of the most successful was simply every time you paid your rent on time, you got a text saying thank you.

So there's an experiment from Singapore, which I think was adopted in the UK by a housing association which had trouble getting people to pay their rent on time. And one of the most – they tried a variety of behavioral economic interventions. But one of the most successful was simply every time you paid your rent on time, you got a text saying thank you.

So there's an experiment from Singapore, which I think was adopted in the UK by a housing association which had trouble getting people to pay their rent on time. And one of the most – they tried a variety of behavioral economic interventions. But one of the most successful was simply every time you paid your rent on time, you got a text saying thank you.

And that massively reduced the incidence of late payment subsequently. It's one of those weird things. And that's a total just – it's a tiny little reframing, which is you did a good thing. We're grateful to you. We noticed. Yeah. Whereas I don't feel when I pay whatever vast amount I pay to the exchequer, if they just said kind of we noticed, thank you for doing the right thing.

And that massively reduced the incidence of late payment subsequently. It's one of those weird things. And that's a total just – it's a tiny little reframing, which is you did a good thing. We're grateful to you. We noticed. Yeah. Whereas I don't feel when I pay whatever vast amount I pay to the exchequer, if they just said kind of we noticed, thank you for doing the right thing.

And that massively reduced the incidence of late payment subsequently. It's one of those weird things. And that's a total just – it's a tiny little reframing, which is you did a good thing. We're grateful to you. We noticed. Yeah. Whereas I don't feel when I pay whatever vast amount I pay to the exchequer, if they just said kind of we noticed, thank you for doing the right thing.

By the way, just to be clear on this, I do do the right thing because my wife does my finances. She's a vicar in the Church of England, which is like having the shittest accountant in the world. in terms of tax. Roy, when you attended that conference, they gave you a free pen. I really think you ought to declare this. I actually declared all the capital gains on my bloody Bitcoin.

By the way, just to be clear on this, I do do the right thing because my wife does my finances. She's a vicar in the Church of England, which is like having the shittest accountant in the world. in terms of tax. Roy, when you attended that conference, they gave you a free pen. I really think you ought to declare this. I actually declared all the capital gains on my bloody Bitcoin.

By the way, just to be clear on this, I do do the right thing because my wife does my finances. She's a vicar in the Church of England, which is like having the shittest accountant in the world. in terms of tax. Roy, when you attended that conference, they gave you a free pen. I really think you ought to declare this. I actually declared all the capital gains on my bloody Bitcoin.