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The Psychology of Money

The Psychology of Money

by Morgan Housel

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Man In The Car Paradox

When you see someone is driving a nice car, you rarely think, "Wow, the guy driving that car is cool." Instead, you think, "Wow if I had that car people would think I'm cool." Subconscious or not, this is how people think.

There is a paradox here: people tend to want wealth to signal to oth...

Iron Law Of Economics

There is an iron law in economics : extremely good and extremely bad circumstances rarely stay that way for long because supply and demand adapt in hard-to-predict ways.

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In the Psychology of Money, Morgan Housel teaches you how to have a better relationship with money and to make smarter financial decisions. Instead of pretending that humans are ROI-optimizing machines, he shows you how your psychology can work for and against you.

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