Harvard Professor Sendhil Mullainathan, one of the leading economists in the field of behavioral economics, has recently released a new book with Princeton cognitive psychologist Professor Eldar Shafir entitled Scarcity: Why Having Too Little Means So Much.
Their book examines the psychology of scarcity and the scarcity mindset that narrows perspective and perpetuates lack through the limiting of one's options. This is an important new work that addresses the psychology around poverty and how people's minds work differently when they feel they lack something. The results of their research show empirically that the feeling of scarcity places very real limits on what people are able to see, and the authors offer strategic interventions as behavioral solutions to help break these cycles that lead to the scarcity mindset.
Being poor changes your thinking about everything, The Washington Post, September 13, 2013
Scarcity: Why Having Too Little Means So Much – review, The Guardian, September 7, 2013
Days late, dollars short: Those with too little have a lot on their mind, The Economist, August 31, 2013
It Captures Your Mind, The New York Review of Books, September 26, 2013
Why is saving money so hard? on CNN Money, December 17, 2013