On Efficacy of Business Books

These days I’m reading what appears to be a fantastic book by Daniel Kahneman, called “Thinking, Fast and Slow”. It’s about how the intuitive and analytical minds think and interact. It’s about statistics and the fallacies of our minds with regards to statistical intuition and other thinking fallacies.

The quotes in the image are just a sample of quotes from one chapter. These specifically refer to the efficacy, or rather lack of thereof, of a specific kind of business books, those that try to teach the readers how to be successful in business by analyzing previous successful businesses, as if their management was somehow especially smart. The thing, as Kahneman explains, is that luck plays a much more important role than a specific CEO’s abilities are and eventually, over time, the companies come to some middle ground because luck averages out.

In short, read the quotes. Better yet, get the book.