Sendhil Mullainathan & Eldar Shafir
On a relative scale, we probably are in the most abundant era of civilisation. And yet, we struggle to manage with less than what we need. Sometimes it’s money, in other cases time or health, and then there are emotional needs like love and affection. But there’s a common thread that connects all of these – the scarcity mindset. A feeling of having less than what one needs. And scarcity, as the authors repeat many a time in the first few sections captures the mind.
This framing suddenly brings up patterns that are common across vegetable sellers in India and the authors of this book, two sets of people vastly separated by geography and lifestyles. It then allows the formation of concepts and constructs – bandwidth, focusing and tunneling, choking, slack are a few examples – that offers explanations on how scarcity is created, how it forms its own vicious cycles, and how far reaching its consequences are. Complicated as the subject may seem (and it is!) the fantastic use of examples (tests, experiments and real life scenarios) explains things in a way that the reader can easily grasp. More