Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

Nov 2, 2016

Think Like a Freak

In their bestselling book Think Like a Freak, the authors Steven Levitt and Stephen Dubner explain their title like this:
"The modern world demands that we all think a bit more productively, more creatively, more rationally; that we think from a different angle, with a different set of muscles, with a different set of expectations; that we think with neither fear nor favor, with neither blind optimism nor sour skepticism. That we think like -- ahem -- a Freak." (p. 7)
Makes sense, but didn't we already know that? Why is it necessary to write a book about that? Well, because...
"A growing body of research suggests that even the smartest people tend to seek out evidence that confirms what they already think, rather than new information that would give them a more robust view of reality." (p. 10)
So if you're a really smart person, you need this book. And if you're not so smart, well, then you really need to read it. Here are some of the things you'll learn:

... what the three hardest words in the English language are (hint: it's not "I love you").
... why Protestants in Germany earn more than their Catholic counterparts.
... why it's a good idea to start thinking like a child.
... what King Solomon and David Lee Roth have in common (besides being Jewish).
... what you can learn from a hot-dog-eating champion or an ulcer detective.
... how to convince people who don't want to be convinced.


A couple of key quotes:
"When people don't pay the true cost of something, they tend to consume it inefficiently." (p. 15)

"The key to learning is feedback. It is nearly impossible to learn anything without it." (p. 34)

"Thinking like a Freak means you should work terribly hard to identify and attack the root cause of problems." p. 65)

As George Bernard Shaw used to say: "Few people think more than two or three times a year. I have made an international reputation for myself by thinking once or twice a week." (p. 10) Trust me though, you don't need to think too much about the decision to get this book. As always, if you'd like to support this blog, you can buy it here or in my bookstore. I appreciate it!

Sep 3, 2014

For Soccer Fans Only

As a long-time soccer fan, I especially enjoyed reading Simon Kuper and Stefan Szymanski's book Soccernomics, an economic analysis of the world's most popular game. They really go into detail and  analyze everything from coaches to players to World Cups to most anything else that has to do with soccer. If you're a true soccer fan, you need to get this book.

You will learn a few secrets of the transfer market:
  • A new manager wastes money on transfers; don't let him.
  • Stars of recent World Cups or European championships are overvalued; ignore them.
  • Certain nationalities are overvalued.
  • Sell any player when another club offers more than he is worth.
  • Replace your best players even before you sell them.
  • Gentlemen prefer blonds (this is a good one ;-))
  • including six more secrets that you'll find in the book...

You will also find out...