Book Review: Thinking, Fast and Slow

“A reliable way to make people believe in falsehoods is frequent repetition, because familiarity is not easily distinguished from truth.”

Kahneman, Daniel. Thinking, Fast and Slow

I stumbled upon this book as a recommended read in a business class during 2019. At first, I was hesitant that it would be of any value to me, but it became one of the most life-changing books I’ve read. It gave me enormous insights into the human mind, and suddenly I perceived myself and others in a completely different way.

The book summarizes the lifelong works of Daniel Kahneman and Amos Tversky Most notoriously known for their prospect theory, they are world-leading experts of behavioral psychology. Their work has vast applications in finance, which awarded Kahneman a novel prize in economic sciences.

In the book’s pages, the reader will learn about:

  • The differences between our intuitive and rational minds.
  • The various heuristics and biases that we have.
  • Ways in which we can be overconfident.
  • The mental process of making choices.
  • And finally, how we experience things versus how we remember them.

My Takeaways

This book initially seemed a bit technical to me. But after reading some of its passages more than once, I feel it would have been hard to explain the concepts more simply.

Once I started incorporating the concepts, I could easily explain my actions and impulses; this helped me improve how I interact with others and process my emotions. It was a game-changer. This knowledge urged me to take a more data-driven approach to life, and it led me to improve in many areas like financial planning, general skills, and effectiveness in my job.

One of the most impactful learnings for me was to see how our mind can make connections of completely (and statistically) unrelated events and draw conclusions on which we base beliefs.

I recommend this book to anyone, and I think schools should teach this topic as it can help many keep their lives on the right path.

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