Tuesday, June 25, 2019

Mind over Money by Claudia Hammond

Mind over Money by Claudia Hammond

Having been trained for many years in psychology, then switching over to what academics sometimes refer to as "the dark side" working in the corporate world, I have enjoyed the blending of the two worlds in behavioral economics.

This book covers some of the various ways we think about money. My only quibble with it is that the author goes from research studies to specific recommendations, which comes off as a bit jarring to me. Studies are typically more circumspect, with qualifications such as, "in general" and "under certain circumstances" people tend to do x or y, but rarely would they suggest those findings as blanket behavioral recommendations. They might go with, "under similar circumstance, you may consider doing x or y, to obtain a desired result" but one can see the limitations or qualifiers in that statement that seemed absent in Hammond's text.

I am curious, now, to read this English author's previous work treating how we think about time, also an interesting topic for me.  We can always make more money, but we can't make more time, so in that sense it is even more valuable. Like money, we have many odd and sometimes fascinating biases and heuristics about time.

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