8. Loss and Ownership
How people’s non-conscious desire to avoid loss affects their choices in many, many ways.
Sometime in the 1890s, T.R Russell of Liverpool made a gold pocket watch. According to an inscription on the movement, Russell was a watchmaker for the Admiralty and the Queen. The watch has a beautiful, clean face and an assertive tick. It is about 1½ inches in diameter and weighs a hefty 4¾ ounces. I know this because I weighed it on my kitchen scales a couple of months ago, before entrusting it to a safe deposit box.
I inherited the pocket watch from a great uncle I hardly knew. He was a laborer who had immigrated to England from County Donegal in Ireland in the 1920s. My great uncle worked hard for many years in dusty factories, ...