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Wednesday, 24 January 2018

Resources for a Teenager – ‘Economics’

The fourth in a series of posts detailing those resources I’m finding useful on my own particular (life) journey.


I did Economics A Level, back in the mists of time.

Since then I’ve done a Psychology degree and an MBA.

Humans are not rational actors seeking to maximise their economic utility.

We’re meat bags, and (too) often meat puppets. Let’s treat each other – and our Selves – on the basis of that insight. I.e. with understanding, compassion, and a pinch of salt!

The List

The rationale

  • Predictably Irrational – i.e. humans are irrational, but in predictable ways
  • The Lean Startup – a business passion of mine, and a means to experiment your way to success. Has turned business failure into something valuable – if in the context of continual learning
  • Business Model Generation – essential complement to The Lean Startup. When I first read it, half way through I thought: “this is McKinsey quality material”. Not sure if McKinsey knows a great deal about this domain though… #discuss
  • On the basis of reading Moneyball(and watching the film), I am a huge Michael Lewis fan. His lighthearted style turns non-fiction subjects into page-turners. A pleasure and an indulgence to read his work

To read:

  • Nudge - the book that started the Behavioural Economics movement, and brought groundedness to stale academic debate
  • Liar’s Poker – Wall Street excess and nuttiness
  • Flash Boys – the operations (or not) of high-frequency financial trading
  • The Undoing Project: A Friendship that Changed the World – shining a fond light into the professional collaboration of Amos Tversky & Danny Kahneman. This will be a reward for doing something special ;D
  • The Big Short – Michael’s treatment of one of the pivotal moments of this century so far
  • The English Constitution – Walter Bagehot’s take on the UK’s unwritten constitution
  • Lombard Street - according to Wikipedia: "Bagehot was one of the first writers to describe and explain the world of international and corporate finance, banking, and money in understandable language"
  • The Madness of Crowds – definitely not rational economics actions, surely undercutting efficient market theory…?
  • The Smartest Guys in the Room: epic folly, cynical pyramid schemes, and still on my shelf. The Enron story and the subsequent collapse. Whistleblowers everywhere - 

The Task

Let’s learn how to empower ourselves to make the best decisions possible, and de-mystify the jargon and de-fang the prognosticators – based on our own experiments!

Students everywhere: take control of your own learning in this domain, bring it to life with stuff more readily intelligible, and become passionate about such as important topic.


Any thoughts, additions, amendments – whatever – please add in respectful and constructive comments below. Thank you!


I endeavour to record what I’m reading via my profile on Goodreads.
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