Scarcity: The New Science of Having Less and How It Defines Our Lives [Paperback]

In this provocative book based on cutting-edge research, Sendhil Mullainathan and Eldar Shafir show that scarcity creates a distinct psychology for everyone struggling to manage with less than they need. Busy people fail to manage their time efficiently for the same reasons the poor and those maxed out on credit cards fail to manage their money. The dynamics of scarcity reveal why dieters find it hard to resist temptation, why students and busy executives mismanage their time, and why the same sugarcane farmers are smarter after harvest than before.

Once we start thinking in terms of scarcity, the problems of modern life come into sharper focus, andScarcityreveals not only how it leads us astray but also how individuals and organizations can better manage scarcity for greater satisfaction and success.

Sendhil Mullainathan, a professor of economics at Harvard University, is a recipient of a MacArthur Foundation genius grant and conducts research on development economics, behavioral economics, and corporate finance. He lives in Cambridge, Massachusetts.
Eldar Shafir is the William Stewart Tod Professor of Psychology and Public Affairs at Princeton University. He conducts research in cognitive science, judgment and decision-making, and behavioral economics. He lives in Princeton, New Jersey.

Extraordinarily illuminating...Mullainathan and Shafir have made an important, novel, and immensely creative contribution. Cass R. Sunstein, The New York Review of Books

Compelling, important...A handy guide for those of us looking to better understand our inability to ever climb out of the holes we dig ourselves, whether related to money, relationships, or time. The Boston Globe

[Scarcityoffers] groundbreaking insights into...the effects of poverty on cognition and our ability to make choices about our lives. Samantha Power, The Wall Street Journal

This is a book to read--but not while you arelc.