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Scarcity: Why Having Too Little Means So Much-Sendhil Mullainathan,Eldar Shafir

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Ebook About
A surprising and intriguing examination of how scarcity—and our flawed responses to it—shapes our lives, our society, and our cultureWhy do successful people get things done at the last minute? Why does poverty persist? Why do organizations get stuck firefighting? Why do the lonely find it hard to make friends? These questions seem unconnected, yet Sendhil Mullainathan and Eldar Shafir show that they are all examples of a mind-set produced by scarcity.Drawing on cutting-edge research from behavioral science and economics, Mullainathan and Shafir show that scarcity creates a similar psychology for everyone struggling to manage with less than they need. Busy people fail to manage their time efficiently for the same reasons the poor and those maxed out on credit cards fail to manage their money. The dynamics of scarcity reveal why dieters find it hard to resist temptation, why students and busy executives mismanage their time, and why sugarcane farmers are smarter after harvest than before. Once we start thinking in terms of scarcity and the strategies it imposes, the problems of modern life come into sharper focus.Mullainathan and Shafir discuss how scarcity affects our daily lives, recounting anecdotes of their own foibles and making surprising connections that bring this research alive. Their book provides a new way of understanding why the poor stay poor and the busy stay busy, and it reveals not only how scarcity leads us astray but also how individuals and organizations can better manage scarcity for greater satisfaction and success.

Book Scarcity: Why Having Too Little Means So Much Review :



The authors' basic point seems to be that scarcity of time or money leads to diminished "bandwidth" (ability of the mind to hold information in the forefront of consciousness) and therefore "tunneling," (the intense focus on what is most immediate or important and the neglect of other issues). The authors' tone is engaging with lots of anecdotes and jokes (presumably to appeal to their undergrad students) and their thesis is supported by the usual hit parade of social science research dealing with decision making. It is hard to know how valid a lot of this research really is and whether you are persuaded by the authors will probably depend on your views going in. One of the authors' main points is that some of poverty is a function of reduced ability to concentrate because of the stress of life. But whether this is a major factor is unaddressed. The authors' recommendations that they believe follow from their conclusions are haphazard and leave the reader shrugging his shoulders. The book only takes a couple of hours to read but whether that time was well spent was to me, now having finished the book, unclear.
I went looking for this book after hearing the podcast Tunnel Vision on Hidden Brain which presented such an illustrative case for the theories presented in the book. Scarcity presents compelling arguments that could change the way societies perceive and address issues of poverty, debt and support programs. I have already heard people incorporating the authors' perspective in public discourse. Their ideas have also had a profound effect on me personally, on how I think about money problems and time management and on my emotional reactions to these universal challenges. I certainly recognize tunnel vision in my choices and have been learning to check outside the tunnel from time to time and use a wider lens when choosing priorities. If you're struggling with time or money management or judging those who are, you will find new ways of thinking about these issues in this book. My new motto: In abundance lie the seeds of scarcity.

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