After learning Newton’s laws of Gravity and Action-Reaction in physics, which will help you survive (not get killed easily at least), I think the most important concept one needs to learn to thrive in our world is this law in economics: Supply & Demand!
Why?
Because if you know how supply and demand works, and use at as a mental model, you can make significantly better decisions compare to the majority of the population.
It gives you an edge, a competitive advantage in a world in which most people don’t know how to think.
- Which career path makes the most sense in the next 10 years?
- Which asset class will have the biggest ROI in the next 5 years?
- Which skills will worth more than others in the next 2 years? …
You can find pretty good answers, solid answers, to these questions if you think in terms of supply and demand.
This book was the last book (sadly 🥺) in The Great Mental Models series by Shane Parrish.
It delves into fundamental principles/laws/aspects of economics and art.
And it presents them not only as laws, but as mental models to use in our day-to-day life.
I loved the economics part more than art part.
I got wiser by reading all 4 books in the series and would recommend it to anyone who likes to get closer to the reality of the world we live in and learn how to work with this reality in a much better way to get what he/she wants.
Happy reading! 📙