“To economists, everything revolves around scarcity - after all, even the biggest spenders can't buy everything. However, the perception of scarcity is not ubiquitous. An empty schedule feels different than a jam-packed workday. And that's not some harmless little feeling. Scarcity impinges on your mind. People behave differently when they perceive a thing to be scarce.
What that thing is doesn't much matter; whether it's too little time, money, friendship, food - it all contributes to experience a "scarcity mentality". And this has benefits. People who experience a sense of scarcity are good at managing their short-term problems. Poor people have an incredible ability - in the short term - to make ends meet, the same way that overworked CEOs can power through to close a deal.
Despite all this, the drawbacks of a "scarcity mentality" are greater than the benefits. Scarcity narrows your focus to your immediate lack, to the meeting that's starting in five minutes or the bills that need to be paid tomorrow. The long-term perspective goes out of the window. "Scarcity consumes you", Shafir explains. "You're less able to focus on other things that are also important to you."
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There's a key distinction though between people with busy lives and those living in poverty: You can't take a break from poverty.”