I found this thoroughly fascinating. It is more psychology than it is economics, but it comes full circle to behavioral economics for sure.
After some interesting examples and speculations, the inevitable conclusion of the author is that humans are fundamentally broken and need help making the better decisions (nudging). This is of course to be executed by ..... humans. exactly. But the humans of the executive branch carry the name: 'state/institution' and are less fallible, like priests who could sell the peasants some holiness to get them into heaven. Institutions carry an excess of rationality that can be transferred to the underlings through their nudging machinery:'drones, guns, jails, tasers, taxes and bombs'
Institutions, he says act more slowly and deliberately, so more rational. Giving more power to less people (to people in institutions from people outside institutions), makes the whole situation more stable. That is unless the few that rule the many, turn out to be megalomaniacs that can not believe they make errors. If we look at Hitler,Stalin,Mao, and 200 million deaths by institutions in the past 100 years, it seems to me there is something wrong with the rationality of institutions.
Of course he makes the straw-men at libertarians that it requires rational, perfect people, but that real life, fallible people need to be ruled by ..... real life fallible people. But these people wear the institutional magical cloak, so what could possible go wrong?
Thus have we arrived at a situation in which the institutions are helping us to eat healthier and make better choices by the FDA, who raids organic food stores with drawn weapons, eehhh I mean nudging machinery, and all FDA posts are now occupied by Monsanto employees as much as all financial regulation is controlled by Goldman Sachs. Big parhma completely controls what drugs you use (more and more). But the government educates your children, so what do they know? Your money is counterfeited at a gigantic scale by the federal reserve institution, etc. etc.
The author concludes there is much interests among the world megalomaniacs to nudge according to his scientific method.
I'm positive he can look forward to ample research funds provided by the thieves that like to nudge their underlings.
If you too want to make easy money and don't mind licking the heels of those in power: Scientific justification of their hell fire nudging will keep the dough rolling in.
I didn't read the print version.
It was reminiscent of Malcolm Gladwell and Dan Ariely's work.
Perfect presentation for the subject matter.
Concise summary of a lot of important research. Intuitively presented. Thought provoking. Outstanding.
Eyes opening, educating. Useful insight into the way our mind works. Learning to avoid common, natural mistakes. Understanding our 2 systems and when to consciously use the second one to think end decide correctly.
You gain practical understanding from every chapter.
Such great information, but so inappropriate for unabridged audio format. I found my mind drifting, and I'd catch myself, rewind, and listen again. Only to drift again. I finally gave up. I've caught some highlights, and that will have to do.
An abridged form without the long, tedious lists of data would be awesome. The conclusions the author comes to are well worth paying attention to. The data leading up to those conclusions is just too much for this listener.
My reading interests include business and organizational psychology books. In addition, I like mystery.
I could barely get through the material. The book read like a journal article that the author's published.
The narrator was just dry, like the material.
I would have cut through the research and been more deliberate about the applicability of the research findings and its' impact on everyday life.
I would forewarn those who are interested in reading this
I am an engineer!
I would and I have... I found out that senior management at my company also have read it, and recommended it to me (although I had already read it)! It is really, really long though. Sometimes it seems to drag on and on. But it is full of great information about how the mind works.
The bat and ball story, demonstrating the lack of fact-checking done by the conscious mind when a problem is perceived as having a simple answer, is something I've used over and over when recommending the book.
I think reading the book might be a good idea because you could look at the pictures they use for some examples. Patrick's voice is great, though, and makes it feel like you're being told a story by a favorite professor.
This isn't really a laugh-y or cry-y book. It has really made me think and opened my eyes to my own thinking.
The subject line really says it all. It's not a book I would recommend for everyone---it does become a little academic and dense at times in it's presentation---but I think I found myself talking about this book to others more than any other book I've read the last few years. It was VERY thought-provoking and really had me reflecting on it's content as I walked around and dealt with the rest of my life. I know I'm going to carry many key ideas away from it and into the future.
Honestly, while I respect and enjoy Malcolm Gladwell and those types of books, THIS is the book that I've been looking for!
Silly question, really. If you prefer reading, read. If you prefer listening, listen. The book itself is unquestionably unmissable.
Not sure - I've read a lot of books on neuroscience and cognitive psychology...such as The Language Instinct, the Happiness Advantage, Predictably Irrational, The Invisible Gorilla etc. This book is definitely in a class of its own. Much more comprehensive. I love that this wonderful man waited to gain a lifetime of knowledge before coming out with his magnum opus.
Can't speculate on this. The best I can say is that the reading did not detract from the book.