Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets


Nassim Nicholas Taleb - 2001
    The other books in the series are The Black Swan, Antifragile,and The Bed of Procrustes.

Gut Feelings: The Intelligence of the Unconscious


Gerd Gigerenzer - 2007
    Gladwell showed us how snap decisions often yield better results than careful analysis. Now, Gigerenzer explains why our intuition is such a powerful decision-making tool. Drawing on a decade of research at the Max Plank Institute, Gigerenzer demonstrates that our gut feelings are actually the result of unconscious mental processes—processes that apply rules of thumb that we’ve derived from our environment and prior experiences. The value of these unconscious rules lies precisely in their difference from rational analysis—they take into account only the most useful bits of information rather than attempting to evaluate all possible factors. By examining various decisions we make—how we choose a spouse, a stock, a medical procedure, or the answer to a million-dollar game show question—Gigerenzer shows how gut feelings not only lead to good practical decisions, but also underlie the moral choices that make our society function. In the tradition of Blink and Freakonomics, Gut Feelings is an exploration of the myriad influences and factors (nature and nurture) that affect how the mind works, grounded in cutting-edge research and conveyed through compelling real-life examples.

The Death Of Expertise: The Campaign Against Established Knowledge and Why it Matters


Thomas M. Nichols - 2017
    While this has had the positive effect of equalizing access to knowledge, it also has lowered the bar on what depth of knowledge is required to consider oneself an "expert." A cult of anti-expertise sentiment has coincided with anti-intellectualism, resulting in massively viral yet poorly informed debates ranging from the anti-vaccination movement to attacks on GMOs. This surge in intellectual egalitarianism has altered the landscape of debates-all voices are equal, and "fact" is a subjective term. Browsing WebMD puts one on equal footing with doctors, and Wikipedia allows all to be foreign policy experts, scientists, and more. As Tom Nichols shows in The Death of Expertise, there are a number of reasons why this has occurred-ranging from easy access to Internet search engines to a customer satisfaction model within higher education. The product of these interrelated trends, Nichols argues, is a pervasive distrust of expertise among the public coinciding with an unfounded belief among non-experts that their opinions should have equal standing with those of the experts. The experts are not always right, of course, and Nichols discusses expert failure. The crucial point is that bad decisions by experts can and have been effectively challenged by other well-informed experts. The issue now is that the democratization of information dissemination has created an army of ill-informed citizens who denounce expertise.When challenged, non-experts resort to the false argument that the experts are often wrong. Though it may be true, but the solution is not to jettison expertise as an ideal; it is to improve our expertise. Nichols is certainly not opposed to information democratization, but rather the enlightenment people believe they achieve after superficial internet research. He shows in vivid detail the ways in which this impulse is coursing through our culture and body politic, but the larger goal is to explain the benefits that expertise and rigorous learning regimes bestow upon all societies.

Capitalism: A Very Short Introduction


James Fulcher - 2001
    It examines a distinctive stage in the development of capitalism that began in the 1980s, in order to understand where we are now and how capitalism has evolved since. The book discusses the crisis tendencies of capitalism--including the S.E. Asian banking crisis, the collapse of the Russian economy, and the 1997-1998 global financial crisis--asking whether capitalism is doomed to fail. In the end, the author ruminates on a possible alternative to capitalism, discussing socialism, communal and cooperative experiments, and alternatives proposed by environmentalists.About the Series: Combining authority with wit, accessibility, and style, Very Short Introductions offer an introduction to some of life's most interesting topics. Written by experts for the newcomer, they demonstrate the finest contemporary thinking about the central problems and issues in hundreds of key topics, from philosophy to Freud, quantum theory to Islam.

This Will Make You Smarter: New Scientific Concepts to Improve Your Thinking


John Brockman - 2012
    Their visionary answers flow from the frontiers of psychology, philosophy, economics, physics, sociology, and more. Surprising and enlightening, these insights will revolutionize the way you think about yourself and the world.Contributors include:Daniel Kahneman on the “focusing illusion”Jonah Lehrer on controlling attentionRichard Dawkins on experimentationAubrey De Grey on conquering our fear of the unknownMartin Seligman on the ingredients of well-beingNicholas Carr on managing “cognitive load”Steven Pinker on win-win negotiatingDaniel Goleman on understanding our connection to the natural worldMatt Ridley on tapping collective intelligenceLisa Randall on effective theorizingBrian Eno on “ecological vision”J. Craig Venter on the multiple possible origins of life  Helen Fisher on temperamentSam Harris on the flow of thoughtLawrence Krauss on living with uncertainty

Extraordinary Popular Delusions and the Madness of Crowds


Charles Mackay - 1841
    This Harriman House edition includes Charles Mackay's account of the three infamous financial manias - John Law's Mississipi Scheme, the South Sea Bubble, and Tulipomania.Between the three of them, these historic episodes confirm that greed and fear have always been the driving forces of financial markets, and, furthermore, that being sensible and clever is no defence against the mesmeric allure of a popular craze with the wind behind it.In writing the history of the great financial manias, Charles Mackay proved himself a master chronicler of social as well as financial history. Blessed with a cast of characters that covered all the vices, gifted a passage of events which was inevitably heading for disaster, and with the benefit of hindsight, he produced a record that is at once a riveting thriller and absorbing historical document. A century and a half later, it is as vibrant and lurid as the day it was written.For modern-day investors, still reeling from the dotcom crash, the moral of the popular manias scarcely needs spelling out. When the next stock market bubble comes along, as it surely will, you are advised to recall the plight of some of the unfortunates on these pages, and avoid getting dragged under the wheels of the careering bandwagon yourself.

Wait: The Art and Science of Delay


Frank Partnoy - 2012
    Even as technology exerts new pressures to speed up our lives, it turns out that the choices we make--unconsciously and consciously, in time frames varying from milliseconds to years--benefit profoundly from delay. As this winning and provocative book reveals, taking control of time and slowing down our responses yields better results in almost every arena of life ... even when time seems to be of the essence.The procrastinator in all of us will delight in Partnoy's accounts of celebrity "delay specialists," from Warren Buffett to Chris Evert to Steve Kroft, underscoring the myriad ways in which delaying our reactions to everyday choices--large and small--can improve the quality of our lives.

50 Popular Beliefs That People Think Are True


Guy P. Harrison - 2011
    Or perhaps you're trying to find a nice way of dissuading someone from wasting money on a homeopathy cure. Or you met someone at a party who insisted the Holocaust never happened or that no one ever walked on the moon. How do you find a gently persuasive way of steering people away from unfounded beliefs, bogus cures, conspiracy theories, and the like? This down-to-earth, entertaining exploration of commonly held extraordinary claims will help you set the record straight. The author, a veteran journalist, has not only surveyed a vast body of literature, but has also interviewed leading scientists, explored "the most haunted house in America," frolicked in the inviting waters of the Bermuda Triangle, and even talked to a "contrite Roswell alien." He is not out simply to debunk unfounded beliefs. Wherever possible, he presents alternative scientific explanations, which in most cases are even more fascinating than the wildest speculation. For example, stories about UFOs and alien abductions lack good evidence, but science gives us plenty of reasons to keep exploring outer space for evidence that life exists elsewhere in the vast universe. The proof for Bigfoot or the Loch Ness Monster may be nonexistent, but scientists are regularly discovering new species, some of which are truly stranger than fiction.Stressing the excitement of scientific discovery and the legitimate mysteries and wonder inherent in reality, this book invites readers to share the joys of rational thinking and the skeptical approach to evaluating our extraordinary world.

The Social Animal: The Hidden Sources of Love, Character, and Achievement


David Brooks - 2011
    Now, with the intellectual curiosity and emotional wisdom that make his columns among the most read in the nation, Brooks turns to the building blocks of human flourishing in a multilayered, profoundly illuminating work grounded in everyday life.This is the story of how success happens. It is told through the lives of one composite American couple, Harold and Erica—how they grow, push forward, are pulled back, fail, and succeed. Distilling a vast array of information into these two vividly realized characters, Brooks illustrates a fundamental new understanding of human nature. A scientific revolution has occurred—we have learned more about the human brain in the last thirty years than we had in the previous three thousand. The unconscious mind, it turns out, is most of the mind—not a dark, vestigial place but a creative and enchanted one, where most of the brain’s work gets done. This is the realm of emotions, intuitions, biases, longings, genetic predispositions, personality traits, and social norms: the realm where character is formed and where our most important life decisions are made. The natural habitat of The Social Animal. Drawing on a wealth of current research from numerous disciplines, Brooks takes Harold and Erica from infancy to school; from the “odyssey years” that have come to define young adulthood to the high walls of poverty; from the nature of attachment, love, and commitment, to the nature of effective leadership. He reveals the deeply social aspect of our very minds and exposes the bias in modern culture that overemphasizes rationalism, individualism, and IQ. Along the way, he demolishes conventional definitions of success while looking toward a culture based on trust and humility.The Social Animal is a moving and nuanced intellectual adventure, a story of achievement and a defense of progress. Impossible to put down, it is an essential book for our time, one that will have broad social impact and will change the way we see ourselves and the world.

Win Bigly: Persuasion in a World Where Facts Don't Matter


Scott Adams - 2017
     Scott Adams--a trained hypnotist and a lifelong student of persuasion--was one of the earliest public figures to predict Trump's win, doing so a week after Nate Silver put Trump's odds at 2 percent in his FiveThirtyEight.com blog. The mainstream media regarded Trump as a novelty and a sideshow. But Adams recognized in Trump a level of persuasion you only see once in a generation.Trump triggered massive cognitive dissonance and confirmation bias on both the left and the right. We're hardwired to respond to emotion, not reason. We might listen to 10 percent of a speech--a hand gesture here, a phrase there--and if the right buttons are pushed, we irrationally agree with the speaker and invent reasons to justify that decision after the fact.The point isn't whether Trump was right or wrong, good or bad. Win Bigly goes beyond politics to look at persuasion tools that can work in any setting--the same ones Adams saw in Steve Jobs when he invested in Apple decades ago. For instance:- If you need to convince people that something is important, make a claim that's directionally accurate but has a big exaggeration in it. Everyone will spend endless hours talking about how wrong it is while accidentally persuading themselves the issue is a high priority. - Stop wasting time on elaborate presentations. Inside, you'll learn which components of your messaging matter, and where you can wing it. - Creating "linguistic kill shots" with persuasion engineering (such as "Low-energy Jeb") can be more powerful than facts and policies.Adams offers nothing less than "access to the admin passwords to human beings." This is a must-read if you care about persuading others in any field--or if you just want to resist persuasion from others.

A Field Guide to Lies: Critical Thinking in the Information Age


Daniel J. Levitin - 2016
    We are bombarded with more information each day than our brains can process—especially in election season. It's raining bad data, half-truths, and even outright lies. New York Times bestselling author Daniel J. Levitin shows how to recognize misleading announcements, statistics, graphs, and written reports revealing the ways lying weasels can use them. It's becoming harder to separate the wheat from the digital chaff. How do we distinguish misinformation, pseudo-facts, distortions, and outright lies from reliable information? Levitin groups his field guide into two categories—statistical infomation and faulty arguments—ultimately showing how science is the bedrock of critical thinking. Infoliteracy means understanding that there are hierarchies of source quality and bias that variously distort our information feeds via every media channel, including social media. We may expect newspapers, bloggers, the government, and Wikipedia to be factually and logically correct, but they so often aren't. We need to think critically about the words and numbers we encounter if we want to be successful at work, at play, and in making the most of our lives. This means checking the plausibility and reasoning—not passively accepting information, repeating it, and making decisions based on it. Readers learn to avoid the extremes of passive gullibility and cynical rejection. Levitin's charming, entertaining, accessible guide can help anyone wake up to a whole lot of things that aren't so. And catch some lying weasels in their tracks!

Connected: The Surprising Power of Our Social Networks and How They Shape Our Lives


Nicholas A. Christakis - 2008
    Your colleague's husband's sister can make you fat, even if you don't know her. A happy neighbor has more impact on your happiness than a happy spouse. These startling revelations of how much we truly influence one another are revealed in the studies of Dr. Christakis and Fowler, which have repeatedly made front-page news nationwide. In Connected, the authors explain why emotions are contagious, how health behaviors spread, why the rich get richer, even how we find and choose our partners. Intriguing and entertaining, Connected overturns the notion of the individual and provides a revolutionary paradigm-that social networks influence our ideas, emotions, health, relationships, behavior, politics, and much more. It will change the way we think about every aspect of our lives.

Bullshit Jobs: A Theory


David Graeber - 2018
    After a million online views in seventeen different languages, people all over the world are still debating the answer.There are millions of people—HR consultants, communication coordinators, telemarketing researchers, corporate lawyers—whose jobs are useless, and, tragically, they know it. These people are caught in bullshit jobs.Graeber explores one of society’s most vexing and deeply felt concerns, indicting among other villains a particular strain of finance capitalism that betrays ideals shared by thinkers ranging from Keynes to Lincoln. Bullshit Jobs gives individuals, corporations, and societies permission to undergo a shift in values, placing creative and caring work at the center of our culture. This book is for everyone who wants to turn their vocation back into an avocation.

An Economist Gets Lunch: New Rules for Everyday Foodies


Tyler Cowen - 2012
    

Misbehaving: The Making of Behavioral Economics


Richard H. Thaler - 2016
    Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth—and change the way we think about economics, ourselves, and our world.Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments.Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber.Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking, Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining.