The World's Best Book Summaries
Is financial success a matter of luck or know-how? What plays a bigger role? There are so many memoirs and self-help books out there by millionaires that teach readers how to follow in their footsteps—”they got rich by following these steps, and you can too!” However, what these books fail to account for is the role of chance in financial success. Here’s why success is luck, according to behavioral finance expert Morgan Housel.
What is Eric Berne’s Games People Play about? Why does Berne mean by “games” in the context of social interaction? In his book Games People Play, Dr. Eric Berne says that mind games go back to childhood. Children learn mind games from their parents and then use them later in life. There are often patterns associated with these games that are so deeply ingrained that the player often doesn’t realize what they’re doing. Here’s a brief overview of Games People Play: The Psychology of Human Relationships by Dr. Eric Berne.
Do you look to history when trying to make financial decisions? Why is trying to make financial predictions based on past events a terrible idea? In his book The Psychology of Money, Morgan Housel says that many people will study past events in order to make financial predictions. However, Housel explains, this strategy doesn’t work because history is a series of unpredictable events, and studying it will not help you predict the future of finances. Here’s why you can’t use the past to make financial predictions.
What are the top Manufacturing Consent quotes? How can these passages change how you consume media? In the 1988 book Manufacturing Consent, Chomsky and Herman analyze how mainstream media is indirectly censored by societal elites. This book is even more relevant today with the increase in social media outlets and news sources. Here are some of Chomsky and Herman’s best quotes from the book.
What is the ten-thousand-hour rule? Who first came up with the rule, and what is the research behind it? The ten-thousand-hour rule basically says that you need to practice a skill for at least ten thousand hours before you can be considered an expert. After Malcolm Gladwell published these findings in his book Outliers, there have been a number of criticisms. Here’s why the ten-thousand-hour rule doesn’t hold up.
Where do you see yourself in the future financially? Do you have a financial goal you’re striving for? According to Morgan Housel’s book The Psychology of Money, you should know your personal financial goals, otherwise, you may find yourself making decisions that don’t align with your goals. For example, short-selling stocks may work for some people, but it wouldn’t work with a long-term compounding plan. Here’s why it’s important to follow your own financial goals.
How much money is “enough”? Is there a point at which you should stop taking risks and enjoy what you have? People who say “money doesn’t buy happiness” are wrong—money can make you happier, up to a point. However, once you make enough to live a comfortable life, money can become a trap. Some people become so greedy in their desire to keep making more that they risk losing everything they have. Here’s how to be happy with having “enough.”
How can you tell someone is playing a mind game on you? What are the different types of mind games people play? Mind game psychology is complex because there are many different types of games people play on each other. In his book Games People Play, psychiatrist Eric Berne provides a framework for analyzing mind games and understanding why people get tangled up in negative interactions. In this article, you’ll learn how to analyze ming games according to Eric Berne’s Transactional Analysis framework.
Does the United States truly practice the freedom of the press? Who decides what gets published and what doesn’t? Despite the fact that the United States prides itself on having freedom of the press and freedom of speech, the authors of Manufacturing Consent argue that the elite class is censoring media. There are many ways they do this: using political power, limiting competition, pulling funding, etc. Learn why Chomsky and Herman believe the media is being indirectly censored.
Is being rich and being wealthy the same thing? If not, then what is the difference between rich and wealthy? Contrary to popular belief, being rich and being wealthy is not the same thing. Being wealthy means you have a lot of money in the bank while being rich means you have a high income. But, just because you have a high income does not mean that you use your money wisely—money can disappear as fast as it appears if you aren’t responsible. Here is why making a lot of money doesn’t mean you’re wealthy.