[📚Sunday Book Club]: Thinking, Fast and Slow by Daniel Kahneman 🧠

[📚Sunday Book Club]: Thinking, Fast and Slow by Daniel Kahneman 🧠

There are so many great books focused on the human mind, the way we operate, make decisions or think.

Thinking, Fast and Slow by Daniel Kahneman, is simply fascinating because it explains in very basic concepts the way humans think. Being in real estate, we must master this knowledge. We must not only understand, we need to apply it to get results. Right?

Based on Kahneman's hypothesis, there are two systems of thinking:
System 1: emotional, fast and intuitive (this one is what makes us very often “human”)
System 2: logical, slow and deliberate (this one is very statistical, almost computer style, don’t want to say “AI”)

Kahneman goes deep on how we value, judge and appreciate with all these biases combined. And let me tell you, we are wrong more than we think! So much of our thinking is based on our origin, childhood, parents, society, or basic human nature.

Btw, we humans are irrational! 😂 (sorry for spoiling the ending)

This book will offer practical insights on how we arrive at our decisions, how we can tap into the benefits of slow thinking, and how specific techniques can keep us out of trouble in our business and personal lives.

Here are a few quotes to get you thinking about YOUR thinking:

“A reliable way to make people believe in falsehoods is frequent repetition, because familiarity is not easily distinguished from truth. Authoritarian institutions and marketers have always known this fact.”

“We are prone to overestimate how much we understand about the world and to underestimate the role of chance in events.”

“A general “law of least effort” applies to cognitive as well as physical
exertion. The law asserts that if there are several ways of achieving the
same goal, people will eventually gravitate to the least demanding course
of action. In the economy of action, effort is a cost, and the acquisition of
skill is driven by the balance of benefits and costs. Laziness is built deep into our nature.”

What I took away from this book is that knowing how we operate, how we think and make decisions can be potentially the biggest tool which can help us move forward. 

At the end, as Kahneman said, “we can be blind to the obvious, and we are also blind to our blindness.” I rather accept under System 2 that there is more I don’t know than I do know, and keep on learning.

Happy Sunday

Love, Hana ❤️
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