Scarcity: Why Having Too Little Means So Much Hardcover – Sep 3 2013
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“Extraordinarily illuminating. . . . Mullainathan and Shafir have made an important, novel, and immensely creative contribution.” ―Cass R. Sunstein, The New York Review of Books
“Sendhil Mullainathan and Eldar Shafir offer groundbreaking insights into, among other themes, the effects of poverty on cognition and our ability to make choices about our lives.” ―Samantha Power, The Wall Street Journal
“Scarcity is a captivating book, overflowing with new ideas, fantastic stories, and simple suggestions that just might change the way you live.” ―Steven D. Levitt, coauthor of Freakonomics
“Compelling, important … Scarcity is likely to change how you view both entrenched poverty and your own ability -- or inability --to get as much done as you'd like… It's a handy guide for those of us looking to better understand our inability to ever climb out of the holes we dig ourselves, whether related to money, relationships, or time.” ―The Boston Globe
“Sendhil Mullainathan and Eldar Shafir are stars in their respective disciplines, and the combination is greater than the sum of its parts. Together they manage to merge scientific rigor and a wry view of the human predicament. Their project has a unique feel to it: it is the finest combination of heart and head that I have seen in our field.” ―Daniel Kahneman, author of Thinking, Fast and Slow
“The scarcity phenomenon is good news because to a certain extent, we can design our way around it...What's particularly useful about the idea of scarcity is that it is overarching; ease that burden, and people will be better able to deal with all the rest.” ―The New York Times
“Sendhil Mullainathan and Eldar Shafir show how the logic of scarcity applies to rich and poor, educated and illiterate, Asian, Western, Hispanic, and African cultures alike. They offer insights that can help us change our individual behavior and that open up an entire new landscape of public policy solutions. A breathtaking achievement!” ―Anne-Marie Slaughter, professor emerita, Princeton University, and president and CEO of the New America Foundation
“A key point of Mullainathan and Shafir's work is that we may all experience different kinds of scarcity, accompanied by the same hyper-narrow focus and costs in lost attention elsewhere.” ―The Atlantic
“Here is a winning recipe. Take a behavioral economist and a cognitive psychologist, each a prominent leader in his field, and let their creative minds commingle. What you get is a highly original and easily readable book that is full of intriguing insights. What does a single mom trying to make partner at a major law firm have in common with a peasant who spends half her income on interest payments? The answer is scarcity. Read this book to learn the surprising ways in which scarcity affects us all.” ―Richard H. Thaler, University of Chicago, coauthor of Nudge
“[Mullainathan and Shafir] examine how having too little of something first inspires focused bursts of creativity and productivity--consider how looming deadlines can motivate us. But a long-term dearth can result in fixations that hinder our decision-making...Less is not necessarily more.” ―Discover Magazine
“With a smooth blend of stories and studies, Scarcity reveals how the feeling of having less than we need can narrow our vision and distort our judgment. This is a book with huge implications for both personal development and public policy.” ―Daniel H. Pink, author of Drive and To Sell Is Human
“Scarcity is certain to gain popularity and generate discussion because it hits home. Everyone has experienced scarcity, and the research cited will likely alter every reader's worldview.” ―American Scientist's "Scientists' Bookshelf"
“Insightful, eloquent, and utterly original, Scarcity is the book you can't get enough of. It is essential reading for those who don't have the time for essential reading.” ―Daniel Gilbert, Edgar Pierce Professor of Psychology, Harvard University, and author of Stumbling on Happiness
“The book's unified theory of the scarcity mentality is novel in its scope and ambition.” ―The Economist
“A pacey dissection of a potentially life-changing subject.” ―Time Out London
“A succinct, digestible and often delightfully witty introduction to an important new branch of economics.” ―New Statesman
“One of the most significant economics books of the year.” ―Tyler Cowen, Marginal Revolution
“The struggle for insufficient resources--time, money, food, companionship--concentrates the mind for better and, mostly, worse, according to this revelatory treatise on the psychology of scarcity . . . The authors support their lucid, accessible argument with a raft of intriguing research . . . and apply it to surprising nudges that remedy everything from hospital overcrowding to financial ignorance . . . Insightful.” ―Publishers Weekly (starred review)
About the Author
Sendhil Mullainathan, a professor of economics at Harvard University, is a recipient of a MacArthur Foundation "genius grant" and conducts research on development economics, behavioral economics, and corporate finance. He lives in Cambridge, Massachusetts.
Eldar Shafir is the William Stewart Tod Professor of Psychology and Public Affairs at Princeton University. He conducts research in cognitive science, judgment and decision-making, and behavioral economics. He lives in Princeton, New Jersey.
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Top Customer Reviews
The authors' continuous discussion of the economics of scarcity eventually grows repetitive and tedious; explanations of terms like "tunnelling," confined focus that excludes broader considerations, and "bandwidth tax," where poverty taxes the mind so as to reduce intelligence and control, weigh down the narrative. Nevertheless, the authors stress that their approach to scarcity differs from that of economists. And when they do depart from the school of economics, their writing intrigues. They examine the mechanics of payday loans and show how market vendors in India finance inventory. They discuss how habits of thought constrain choice and argue that managing plenty matters as much as managing scarcity since scarcity often begins with abundance. Indeed, "the crunch just before a deadline often originates with ample time used ineffectively in the weeks preceding it."
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