Economics of Childhood Thinking

Yesterday, my oldest son had his 8th year old birthday party. It was held at a place called "Main Event", which includes bowling (some would call bumper bowling, as it has an option for each user to have a bumper that pops up so you can never get a gutter bowl). Needless to say, my bowling is only slightly better than US Democratic Presidential Candidate Barack Obama who recently bowled a 37 . .. I did break 100 . . . (no, I did not use the bumper). It also includes many video games, games that you win tickets (and then with those tickets you can buy things), putt putt golf, virtual rollercoasters and lazer tag. Oh, I admit it, it is a lot of fun even for an old guy like me!

We had six kids (outside of family members show up) out of about 10 invites (not too bad on a busy weekend). I was so nervous for my son that no one would show up . . . and crush his heart, but they did even some girls (if you remember at that age, not alot of social interaction between the genders).

My two sons have a different way of thinking . . . they were both playing these games whereby dependent on how you do, you win tickets . .. well, one of them, kept "purchasing" this one basketball shooting game, because he would score some tickets, he played over and over and over again (of course who purchased the games, ME!). The other son would mix it up, play some same games (usually different ones) win some tickets, play a video game (usually those ferrari driving games which his feet can barely reach the peddles).

Well, I run out of money (which is easy to do in my current money-making scenario, or lack thereof), so we go to leave and visit the store . . .

The son who has "won" the most tickets looks for something to buy and ends up buying a little football (yes, it costs me about $20 for all of the games but where we could have gone to a sports store and gotten it for about $6). The other son decided to wait (there is no time limit on when you can buy something) and he would continue to build up his "winnings" because he saw something he really wanted but was going to take time to save (probably will be about ten visits, which I can enjoy that as well, or do I just buy the thing he wants which might be cheaper, although it is an autograph football helmet).

The point is some of us, want that immediate gratification, and some are willing to wait and save to get something that they really want . . . which one are you? I use to be an immediate gratification person but have transitioned to being more patience and trying to get what you really want . . . of, course, the USA economy might need a good combination of both, because if everyone had immediate gratification, economy would do well in the short term, but less savings to lend people to buy on credit. On the other hand, if everyone wanted, economy would continue to be in a downfall of GDP . . . We need both types and happy that I have delivered to the world one of each . . . Love those kids, they grow up way too fast!