The World's Best Book Summaries
Why do most people give up trading? Is trading really that hard as it’s made out to be? What does it take to become a successful trader? One of the keys to achieving success in trading is simply a matter of trading a lot. Provided you have a sound strategy, over time you’ll become more adept at reading market patterns and predicting what happens next with ever-increasing accuracy. Here’s how to achieve success in trading.
What are the core economic assumptions? Do the current economic assumptions align with the ultimate goal of economics? According to Kate Raworth, economics has developed some core assumptions about human nature, what an economy exists to do, and what the social science of economics is meant to achieve. According to her, if the economy is to better serve humanity’s needs, these core assumptions need to change. Here’s why the traditional economic assumptions are flawed, according to Raworth.
How can companies encourage innovative thinking? What can you, as a leader, do to inspire creative ideation that translates into a useful innovation? According to Safi Bahcall, the author of Loonshots, companies focused on innovation should separate innovators from implementers. This is because innovation tends to occur in a climate that’s highly unstructured. Successful implementation, however, needs order and structure. Here’s how to encourage innovation in your organization.
Why is it so hard to get out of poverty? What is the key factor that keeps people stuck in the poverty trap? Poverty is an insidious trap that is extremely difficult to escape. Poor people are so focused on stretching their limited resources that they simply don’t have the time or energy to think about anything else. According to Esther Duflo and Abhijit Banerjee, the authors of Poor Economics, one way to break the vicious cycle of poverty is to give the poor easier choices. Here’s how lack of choices keeps people in the poverty trap.
How do people make moral choices? What is the key factor that determines whether people will do the right thing, ethically speaking? In psychology, morality is a subject that has been studied extensively. One of the key influences on people’s moral decisions seems to be distance—how far or close they are to the situation both physically and emotionally. Keep reading to learn about the psychology of morality.
Are you looking for Trading in the Zone quotes by Mark Douglas? What are some of the most noteworthy passages worth revisiting? In his book Trading in the Zone, Mark Douglas argues that winning in trading is a matter of your mindset. If you have a fear-based mindset—that is, you focus on avoiding risk—you’ll never achieve success in trading. If you are serious about becoming a profitable trader, you must overcome the fear-based mindset and adopt the winning mindset, focusing on making gains. Below is a selection of quotes with explanations.
What is Kate Raworth’s book Doughnut Economics about? What is the key message to take away from the book? In her book Doughnut Economics, Kate Raworth argues that traditional economic theory has been too focused on the economy as a measure of GDP, income, and output. Raworth proposes redefining how economics is taught and the role that economists play in shaping public policy, shifting from a growth-centered approach to a human-centered approach that harnesses the power of economics for the betterment of humanity. Below is a brief overview of Doughnut Economics by Kate Raworth.
What is the meaning of “loonshots”? What are some examples of loonshot ideas? Loonshots are ideas that are so original and ambitious that they and their creators are initially dismissed as crazy (e.g. radar, insulin, computer animation). Loonshots begin as flawed, incredibly fragile ideas that almost don’t make it, which is why they require special care. Here’s why loonshots are so fragile as well as why organizations tend to leave loonshots behind as they grow.
How does poverty affect entrepreneurship? How does running a business—paradoxically enough—keep people in the poverty trap? It’s not uncommon for the poor to run their own businesses. However, running a business seldom helps them escape the poverty trap. This is because the poor choose not to invest in their businesses because they have little means to do so. Furthermore, the poor generally don’t want to run their own businesses—they often do so because they don’t have any other options to make a living. Here’s a look at poverty and entrepreneurship.
Does free will exist? Do you believe that your behavior is the manifestation of fate or free will? Most people believe their behavior and decisions stem from their conscious choice. The idea of free will is an attractive one, but some scientists maintain that it is an illusion. Here’s why free does not exist, according to Behave author Robert Sapolsky.