Economists Learn About Sunk Costs and Opportunity Costs

Despite evidence to the contrary, we all use our brains. BUT - most of us have never learned how to think effectively. We’re not talking about IQ or innate intelligence, we’re talking about thinking as a LEARNED SKILL. We’re talking about a productive method of thinking and reasoning.

Scott Adams, the creator of the Dilbert cartoons, author of How To Fail At Almost Everything And Still Win Big and Win Bigly, calls this ‘Loserthink’. Loserthink doesn’t mean ‘dumb’ or ‘uninformed’, it simply means unproductive or ineffective. It’s not a value judgement of a person as a whole, just on this specific method of evaluation. Plenty of ‘smart’ and ‘well-informed’ people are culprits of using Loserthink (and in some cases, they are MORE susceptible). You use Loserthink because you’ve never learned or practiced the SKILL of thinking effectively.

What this book presents is a method for thinking. By borrowing some fundamental techniques from various different fields, we can develop our thinking skills and become much more effective. If we borrow ideas from how to think like a historian, how to think like an entrepreneur, how to think like an engineer, how to think like a scientist - we can cobble together an effective process for thinking.

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