Book Review - Thinking, Fast and Slow

 

Daniel Kahneman is a world-renowned psychologist who won the Nobel Prize for Economics in 2002 for his contribution to behavioural economics. Thinking, Fast and Slow is his summary of his lifetime's work into understanding the human brain - it is required reading for anyone who wishes to understand how we make decisions. Kahneman effortlessly keeps you gripped as he conducts his whistle-stop tour of your mind. Reading this will improve how you understand the decision-making process, and might just help you make better decisions in future. Leaders take note!

The title comes from the way psychologists separate brain functions: two systems are in operation, one is incredibly fast but prone to making errors, while the other is more accurate but slower and lazier. Kahneman reveals how the interaction of these systems results in systematic errors in our thinking and quirks in our decision-making.

For example, we have a fantastic tendency to fail to look beyond the obvious. Kahneman uses the phrase 'What you see is all there is' to describe our thinking so often he actually shortens it to WYSIATI. His expertise combined with a wonderful turn of phrase results in highly enjoyable quotes, such as:

"Our comforting conviction that the world makes sense rests on a secure foundation: our almost unlimited ability to ignore our ignorance."

However, just because Daniel Kahneman has written something doesn't make it true. There are alternative theories (certainly within behavioural economics) worthy of equal attention that don't make the book. Those interested in behavioural economics should not rely on Thinking, Fast and Slow alone. Although, a really nice touch is that the two main papers for which Kahneman received his Nobel Prize are reproduced at the back for those who are really interested.

Given the sheer quantity of material packed into the 400+ pages it may take a while to digest, but don't let that put you off - it's well-worth a read. I thoroughly recommend Thinking, Fast and Slow.

Genre: Psychology
Accessibility: 7/10
Accuracy: 8/10
Readability: 8/10
Usefulness: 10/10
Verdict: Required Reading