Scarcity

Why Having Too Little Means So Much

By: Sendhil Mullainathan, Eldar Shafir

Narrated by: Robert Petkoff

In the blockbuster tradition of Freakonomics, a Harvard economist and a Princeton psychology professor team up to offer a surprising and empowering new way to look at everyday life, presenting a paradigm-challenging examination of how scarcity—and our flawed responses to it—shapes our lives, our society, and our culture.

Why 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 are examples of a mindset 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.

Another tool for your mental toolbox!

Excellent framework that can be used for all- around problem solving. Good reading on subject

A great listen.

Fascinating subject. Really interesting and easy to follow. I wish I didn’t listen to so much in my car because I wanted to take so many notes.

A must read that I will read again and share

This book is very informative and holds useful information for everyone, literally. From the rich to the poor, highly educated to the uneducated, the information in this tool should be in every home, degree program, social service provider and boardroom.

Spectacular

This book is insightful and extremely well presented. It represents a watershed moment in cognitive psychology demonstrating how we think and what we are most vulnerable to. I place this at the same level of significance as Maslows hierarchy. Thanks guys. You inspired me.

A different perspective on resources

Animated narrator speaking about an interesting subject with a ton of new information and studies to back it up. Great book.