What a fantastic book this is!!!
Few take away from the book:
* Scarcity makes mind thinks in one dimension only. It reduces the ability to think in multiple dimension.
* Scarcity can be of many type like money scarcity, time scarcity, food scarcity (dieting) etc.
* Scarcity occupies mental bandwidth, in the same way as back end processes does to the computer processes. More back end processes means slower computer (as computer resources eaten up be the processes).
* Scarcity triggers tunneling effect - which means mind looks only at the solution of the scarcity only and nothing outside the scarcity.
* "Proactive Interference" - which means we saw things of our scarcity only. It means our mind just got stuck in the scarcity and stop conceptualizing outside that.
* "People on dieting perform bad in cognitive tasks".
* "Planning fallacy" - which means we plan our work very optimistically and leaves little head room for the contingencies. This happens because we always very optimistic about our future.
This bias actually triggers the time scarcity at the later part of the work and cause tunneling effect.
* "Hyperbolic discounting/present bias" - due to scarcity impact, people start thinking about present only and don't plan for the future.
and many many more interesting points....
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