Eye-opening article from MIT — read it in the original to see the graph.
David Rotman | October 21, 2014 | MIT Technology Review
The disparity between the rich and everyone else is larger than ever in the United States and increasing in much of Europe. Why?
In summary: illusion of control. And that stress amplifies it.
The 2008 financial crisis taught me about the illusion of control, and how to give it up.
By Bob Henderson | December 24, 2015 | Nautilus
Would we make better decisions if we knew we are acting on the same decision-making principles as slime molds? The article below argues yes.
By David Berreby | February 26, 2015 | Nautilus
The insight that will save you from being manipulated. Continue reading
Insightful article worth reading from The Economist, Jan 18th, 2014:
Previous technological innovation has always delivered more long-run employment, not less. But things can change.
Having read the article below, which is adapted from the book Scarcity: Why Having Too Little Means So Much, by Sendhil Mullainathan and Eldar Shafir, I was struck by several points. For one, it is amazing how much scarcity affects our decisions and actions, on a level we don’t even notice. But more importantly, the effect scarcity has on IQ and self-control sheds new light on the plight of the poor. If you don’t have time to read the whole book, makes sure you read these articles highlighting different aspects of the book: Scarcity: Why Having Too Little Means So Much and Scarcity changes how we think.
If you are really pressed for time, below is an excerpt from the first article:
How much is it worth? Forget rationality, your answer may depend on the last number you have heard. From Advisor’s Edge, April 2012:
Economic theories are based on certain assumptions — one of them is that humans act in self-interest. Dr. Falk’s work suggest that this is not entirely true — “fairness” has a great deal of effect on human decision making. From The Globe and Mail Metro, April 20, 2012:
The aging population of the western world may bring lower asset prices. From the Sep. 24th, 2011 print edition of The Economist:
The effect of ageing on asset prices may make the rich world’s problems worse