“As for there being only 24 hours in the day, this is the piece of advice about which I feel the strongest, mostly because I see people trying to elude it every day. The saying itself should actually be quite familiar to economists as it’s really just a statement about a time constraint. But as we push with ever-improving technology and the illusion of multi-tasking, we believe that we can somehow beat it. However, while we can ease an income constraint by giving an individual more money, we have yet to find a way to give anyone more time (not that we don’t try!). This is really the hardest, most intractable of constraints. And it basically means that we all have to make choices— real choices. One cannot `have it all' (which is antithetical to the notion of a budget constraint) but one can maximize one’s utility subject to the time reality. Fundamentally this means that it is critical to identify our highest priorities and do them (and attempt to do them well) and learn to say no to others demands. One cannot do everything and it’s useless to try."