In the final year of my Economics undergrad at Delhi University, I was a complete hotchpotch of thoughts and emotions.
For the next phase of my life, I had to choose between doing a master's in economics and an MBA. I was not excited about either of these.
After school, I had almost revolted against my parents to study Economics. But to my dismay, I discovered that the Economics we were taught in college was a combination of pseudo mathematics, archaic theories that I would find hard to relate with, and a mixture of concepts bordering on psychology, sociology, political economy, and history. Doing a master's in the subject would mean the more of the same. MBA - the popular choice for my undergrad classmates - somehow didn't seem very appealing to me back then.
Around this time, I stumbled upon the field of behaviour economics and read (as best as I could grasp at that time) some of the work of Daniel Kahneman and Amos Tversky. I was smitten by this new field and my love for Economics was re-born. My decision suddenly became easy. I went for Economics masters at Delhi School of Economics and twenty years later, I am grateful that the universe guided me to that decision.
I have lost track of how many times I have used the concepts of behavioural economics in business and personal life, to my immense advantage.
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In the passing away of Daniel Kahneman, the world has lost one of the founding fathers of this fascinating discipline. He lived a full life and leaves a rich legacy of pathbreaking ideas that will continue to enrich us and our lives. RIP, Danny!
Here is a quote by him that comforts me every time I feel like I am taking myself, my ideas, my situation, or my life too seriously:
'Nothing in life is as important as you think it is, while you are thinking about it’
#danielkahneman #economics #behavioraleconomics #lifeadvice #perspective #dse