Thinking about Thinking (x2) and more

Interesting Reads - Sept 19, 2021

Hi,

Hope you are doing well. Today’s book recommendations are:

The Undoing Project, by Michael Lewis

Daniel Kahneman and Amos Tversky are two of the greatest behavioural economists (and minds) of our generation. This book, by Michael Lewis, one of my favourite authors looks at the friendship and the co-operation between these two giants and their genius that changed the way we look at rationality in humans. Of course, when one discusses such giants, it is inevitable that we learn about how they look at things, how they examine the validity of statements and hypothesis, and what it takes to get to create a new field of study and become absolute legends in that space. If you like this book, I strongly recommend that you read the works of Kahnemann, Richard Thaler, and Cass Sunstein.

Blink: The Power of Thinking without Thinking by Malcolm Gladwell

Malcolm is the man to read when you want to read something that will radically change how you perceive the world. This book examines split second decisions and opinions, why we think the way we do, and how we can understand ourselves better. Of course, Malcolm will give you boatloads of interesting trivia and things you have never heard of in life. So, much like the flag of Switzerland, that’s a big plus too.

Here are some videos I think you will enjoy watching:

Winston Churchill is one of the most controversial characters of the previous century, and rightfully so. While his treatment of non-white subjects leaves much to be desired, his ability to use rhetoric to reach someone’s heart and drive home an argument are unmatched. This speech is a great introduction to Churchill’s genius.

Having fanboyed over many people in life, I love watching Boris fanboy over Churchill. While there are more than enough reasons to not like Boris, this is a really cool video where he looks at the rhetoric that Churchill employed.

Interesting Trivia:

If you have the option of buying an old, used, second-hand iPhone 12 or a brand new iPhone 12, you would be willing to pay more for the new phone, right? You would expect rational customers to make the same decision, irrespective of the product in question. However, this did not apply to the used scooter market at one point.

In the pre-liberalisation era in India, Bajaj Chetak scooters were very hard to find. If you placed an order with the company, it could take you up to 10-years to get the scooter. However, if you were willing to pay more money to someone who had the scooter, you could get it instantly. Sure, you were spending more money, sure, you were getting a used good, but at the end of the day, that was the only practical way of getting a Chetak, albeit a used one. (Source)

I hope you enjoyed reading this as much as I enjoyed writing it.