This book is a must-read; it will make you smarter and more equipped to analyze any economic policy proposal by reasoning logically through some fundaThis book is a must-read; it will make you smarter and more equipped to analyze any economic policy proposal by reasoning logically through some fundamental truths about human behavior. This is perhaps the best primer on economics. If all college economics courses got rid of their textbooks and had students just read this book, students would have a far more accurate and comprehensive understanding of how economics works. They'll also realize how misguided and confused the majority of "economists" are.
This book is smart, holistic, and very easy to read. It recognizes the importance of systems thinking - how policies effect all actors, the seen and unseen, and their impact on the short and long term. It also recognizes that economics is a social science that can be understood through logical deductions based on human behaviors; it is not something to be mastered through crunching statistical quantitative regressions and throwing around buzzwords and politicized catchphrases that carry little meaning. It is through using logical reasoning and tracing out how a given action or policy will impact the whole that we will better understood the intended and unintended consequences of economic policies.
A core wisdom of the book is the understanding that every group has interests antagonistic to those of all other groups. Therefore there will be public policies that benefit one group only at the expense of all other groups, and the beneficiary will argue for their interests persistently; hire the best buyable minds to devote their whole time to presenting its case, and convince the general public that its case is sound to the point that clear thinking on the subject becomes next to impossible.
By understanding this, we can better grasp the consequences of powerful labor unions, minimum wage laws, public works projects, going to war, fearing the advancement of machinery, etc.
The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.
The author suggests that 90% of economic fallacies in the world today are the result of ignoring this one lesson. Demagogues and bad economists can be more plausible in putting forward economic nonsense because they are presenting half-truths: they’re speaking only of the immediate effect of a proposed policy or its effect upon a single group. There are many of these prominent demagogues running our country and writing for popular journalism columns. Too often, the public is too bored and inattentive to rationalize through the whole truth. This book teaches economics in a comprehensive, clear, and concise way....more
Very comprehensive and research-based book on how modern western psychology has learned a lot over the past decades about the human condition, specifiVery comprehensive and research-based book on how modern western psychology has learned a lot over the past decades about the human condition, specifically through the shift in studying the brain (neuroscience), embracing emotions as a core part of cognitive decision-making as well as health, and understanding the role of meditation in cultivating many mental and physical health benefits.
Davidson bridges the gap between the scientific world that relies on research studies for knowledge retrieval and the contemplative world that based much of its knowledge on direct experience and practice.
The book is an encyclopedia of research studies, a narrative of how far the scientific community has come, and a hopeful suggestion toward a future where these disciplines of science vs spirituality, emotion vs intellect, pathological vs normal, will be viewed as a whole and not separate distinctions to be learned in isolation....more
Great introduction for analytical people who like frameworks and research. Excellent job finding the intersection between Emotional Intelligence and MGreat introduction for analytical people who like frameworks and research. Excellent job finding the intersection between Emotional Intelligence and Mindfulness to bridge the East and West....more