The World's Best Book Summaries
Looking for quotes from The Psychology of Money? What is the secret to financial success? Most of us assume financial success depends on education and intelligence. But according to Morgan Housel, the author of The Psychology of Money, the key to financial success lies in understanding human behavior. Here’s a selection of passages highlighting some of the key ideas.
Have you ever made an investment that didn’t turn out the way you expected? What should you do if your investment fails? It’s easy to become discouraged when things don’t go as planned, especially when your money is on the line. However, that doesn’t mean you shouldn’t take risks. Investment failures do occur, fairly frequently, but if you keep trying, you could get lucky enough with one investment that it outweighs any failures. Here is why you shouldn’t let failure hold you back from trying again.
How did the American consumer mindset come to be? What role did the government have to play? In his book The Psychology of Money, Morgan Housel included a postscript that discussed how the current mindset around money came to be. He argues that World War II and the Great Depression played a big part in how Americans approach money. Here’s why Americans have so many conflicted feelings about money, according to Housel’s postscript.
Where does the human need for recognition stem from? What can biology and psychology tell us about the hunger for social recognition? The desire you have to get more likes on social media or be popular in school can be explained by science. From childhood, humans need physical and social contact to survive and become functional. Eric Berne explores this phenomenon in his book Games People Play. Here’s why social recognition is vital to our well-being, according to Berne.
What are the three ego states in transactional analysis? What is the function of each state? The three ego states, according to Eric Berne’s theory of personality, are the parent, the adult, and the child. None of the ego states are “bad,” per se, but they each have their own function in social situations. Continue below to learn about Berne’s ego states.
What are the top financial lessons from Morgan Housel’s The Psychology of Money? How can this book help you change the way you view money and wealth? In his book The Psychology of Money, finance expert Morgan Housel argues against the conventional wisdom about financial success. He says that the key to financial success lies not in hard work and intelligence, but in understanding human behavior. Housel posits that when you understand how emotions and beliefs influence your financial decisions, you’ll make better financial decisions. Here’s a brief overview of the key themes.
Did you know that you can use your money to make more money? How does putting even a small amount into an account that accrues compound interest help you grow your money? In his book The Psychology of Money, Morgan Housel discusses the power of compound interest. The key to maximizing your returns, Housel explains, is to invest as soon as possible and let your money grow over time. Here’s why compound interest is the best way to maximize your income and build wealth.
Why do people play mind games on each other? Why are we so afraid of showing up authentically? Playing mind games is a normal part of psychological development—all people do it at some point in their lives. According to Dr. Eric Berne, the author of Games People Play, we default to mind games because the more fulfilling social form—intimacy—is either unavailable or too terrifying for most people. Here’s how to stop playing mind games and embrace sincere relationships.
What is Eric Berne’s Games People Play about? What is the key message to take away from the book? Games People Play is Berne’s 1964 classic about the many ways that we habitually relate to one another through “games.” These aren’t fun, harmless social games, though—they’re subtle, largely unconscious patterns that harm us and our relationships. Here’s our review of Games People Play: The Psychology of Human Relationships by Eric Berne.
What’s the book Manufacturing Consent about? What are the main praises and criticisms of the book? In their 1988 book, Chomsky and Herman argue that the media and the news are indirectly censored, despite freedom of press and speech. They believe that the elite—the rich and the powerful—control what news gets published and what gets ignored. Here’s an overview of the book Manufacturing Consent.