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Economics & business: books to read

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The expensive thing is rarely the thing you're actually buying.

Be nicer and less flashy. No one is impressed with your possessions as much as you are. You might think you want a fancy car or a nice watch. But what you probably want is respect and admiration. And you’re more likely to gain those things through kindness and humility than horsepower and chrome.
Excerpt from The Psychology of Money, Morgan Housel 2020. Quoted for discovery. Source Rights & removals
  1. Freakonomics

    Steven D. Levitt, 2005

    An economist’s case that the world is stranger than it looks: cheating teachers, sumo wrestlers, and why a backyard pool is more dangerous than a gun.

  2. Bad Blood

    John Carreyrou, 2018

    The reporter who broke the Theranos story reconstructs how a blood-testing startup sold a miracle it couldn’t deliver.

A taste of the feed

  1. What a lottery ticket and a vote actually buy you.

    After all, your chances of winning a lottery and of affecting an election are pretty similar. From a financial perspective, playing the lottery is a bad investment. But it’s fun and relatively cheap: for the price of a ticket, you buy the right to fantasize how you’d spend the winnings - much as you get to fantasize that your vote will have some impact on policy.

    Freakonomics · Steven D. Levitt

  2. We think friendship grows from shared beliefs; the data says shared calendars.

    A study at the University of Utah found that if you ask someone why he is friendly with someone else, he’ll say it is because he and his friend share similar attitudes. But if you actually quiz the two of them on their attitudes, you’ll find out that what they actually share is similar activities. We’re friends with the people we do things with, as much as we are with the people we resemble. We don’t seek out friends, in other words. We associate with the people who occupy the same small, physical spaces that we do.

    The Tipping Point · Malcolm Gladwell

  3. What if the destination matters less than who is sitting beside you?

    For no matter what we achieve, if we don’t spend the vast majority of our time with people we love and respect, we cannot possibly have a great life. But if we spend the vast majority of our time with people we love and respect – people we really enjoy being on the bus with and who will never disappoint us – then we will almost certainly have a great life, no matter where the bus goes. The people we interviewed from the good-to-great companies clearly loved what they did, largely because they loved who they did it with.

    Good to Great · Jim Collins

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