The most recommended books on decision making

There is much evidence that individuals often suffer from inertia when it comes to making significant decisions – including investment choices.

This engaging book by Professor Milkman at the Wharton School aims to create a climate in which “change” can be accomplished in an efficient, systematic, and relatively painless way. There are numerous examples of improvements by both individuals and organizations. This highly readable book is a must for anyone interested in creating and sustaining positive change habits, for example, to encourage increased savings and systematic investment policies.

Professor Milkman is one of our successful undergraduate alums and participates on the advisor committee of the ORFE Department at Princeton. She is a terrific teacher and writer. The lessons in this book are most appropriate for investors who are interested in establishing and maintaining sound habits to improve their investment performance.

This was perhaps the first bestselling business book and became a classic. Drucker coined many maxims, for example, saying that if you don’t know where you are going, any road will do. This is obvious, but how many flounder for lack of clear objectives?

Good, sound common sense is here that stands a new look in the present day, even if it comes from a time when legislation and political correctness made things more straightforward while leaving some current issues unaddressed.

This is a pleasure to read and full of good ideas.

Most of the book deals with errors in how people make future-oriented decisions, and how we can overcome these errors. Yet the author also has good advice about how we should go about predicting plausible futures. He notes that experts with a flexible worldview make better predictions than those who follow a narrow belief or ideology.

As someone who hoarded toilet paper weeks before the 2020 shortage, I relate to the frustration of watching history repeat itself (or at least rhyme with itself) because people are often too distracted to focus on planning for looming crises.

Bina Venkataraman gets to the “why” of this often-fatal flaw as she explores the nature of human decision-making. This book provides tangible narratives as a springboard to answer these questions: How can we use wisdom from our ancestors to better inform our personal, professional, and policy decisions? How can we incentivize (or glitter bomb) long-term planning? And how can we see ourselves as future ancestors in order to be better stewards of the planet?

A perfect selection for corporate, government, and non-profit retreats and professional development conferences!  

Much work on management talks of talent and people being the most important asset, whose ideas and skills should be fully utilized.

This book points to another side of organizations, where stupidity and idiocy reign despite the presence of smart workers (think of people who have important information to convey but are quiet at meetings as they are worried about not being seen as team players). This can help organisations in the short run (less conflict and everyone getting on with the job) but in the long run is problematic.

The authors point to how top-down management marginalizes critical voices and reinforces conformity to existing practices, and in so doing can embed stupidity.

In a world obsessed with schedules and statistics, I found myself drawn to this whimsical tale about a man who rolls a dice to make life's big decisions. It mirrored my own youthful spirit–a time when I lived very spontaneously, even writing novels as experiments in happenstance. It was a time of unexpected adventures, an antidote to dull routines.

Nowadays, over-planning and seriousness sometimes creep in. But thankfully, I have my children to remind me of the simple, healing joy of play–life doesn’t always have to be so meticulously planned.

In this beautifully written and painfully honest memoir, the author gives up buying anything but consumables for a year. During that year, she realizes the treadmill of consumerism had kept her stuck and unhappy. Working to live, living to work. She dives deep into the cycles of spending, debt, and regret and realizes how often she had turned to spending, food, and booze to avoid feeling her feelings. 

Not only did Cait’s journey remind me so much of my own in my 20’s. Spending money I didn’t have to make myself feel better about things I couldn’t change about myself, all the while ignoring the things I could change, she also reminded me of so many of my clients. Hoping that the stuff they buy will fix their problems.

This original book extolling sustainability thinking in impact assessment practice is a must read.

The authors lay out a compelling case to transform business as usual which ultimately degrades our planet to ensure that future development decision-making provides a positive contribution to sustainability.

Clear criteria for sustainability to guide impact assessment along with decision-making trade-off rules are unique stand-out features of this book. It will change the way you think about environmental impact assessment.

Thomas Sowell is underrated. How is a world-renowned thinker and commentator still underestimated? Many people think of Sowell as little more than a cultural commentator or an ideologue.

This book shatters those misconceptions by introducing you to the depth and clarity of Sowell’s thoughts. Reading and re-reading this book will impress you with the power of the economic point of view. Read it after Hazlitt’s Economics in One Lesson.

This book shows that America, since its inception, has followed an imperialistic policy to dominate the world; it built the strongest army in history, and the most advanced military industry. To project power and be able to intervene anywhere, America built about 750 military bases overseas in 80 countries. However, America’s relative decline due to China’s rise, lead America’s policymakers to transform many states into failed states that cannot control all their territories, weak for America to dominate, but unstable to create headaches for their neighbors as the cases of Iraq, Libya, Syria, Ukraine, and Yemen demonstrate. America’s military budget for 2023 is $858 billion, the equivalent of 1/3 of the combined gross domestic product of the 54 African countries. Does this scare you, or comfort you?