In 1985, Mikhail Gorbachev, the head of the Communist party in the Soviet Union, began an ambitious attempt to reform and modernize the USSR and integrate it into the international economy. His first policy was glasnost (intellectual openness), allowing greater freedom of speech, instituting competitive elections to official positions, and limiting terms of office. His second was known as and sought to shift away from a centrally planned economy and allow for the operation of market forces

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

i might look it up later.

what is wrong with black soap shampoo?

explanation: