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Winston Churchill: Lessons for modern day leaders
Nudge
The Endowment Effect
With ownership, suddenly we are at risk of losing something. In this study, it was just a mug, but as the risk and gains scale, so does the effect. Churchill's rise to power is largely linked by his desire to get skin in the game. For example, in 1910, he was promoted to home secretary. Paul Johnson writes that all his life he refused to be bound by a desk. He insisted on seeing things for himself.
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