SpeedReader Summaries - Thinking Fast and Slow by Daniel Kahneman: Summary and Analysis

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1. Introduction to the Book

About Thinking, Fast and Slow

B EST SELLING AUTHOR and Nobel Prize Winner Daniel Kahnemans purpose in writing the book Thinking, Fast and Slow is to help us to understand why we do the irrational things we do by fostering an appreciation for the power of psychology, perception, illogical thinking, and behavioral economics. Arguably Kahnemans most famous publication, the book summarizes in everyday language decades and decades of research and analysis. Inside, Kahneman explains how we, as humans, often think and behave illogically due to faulty intuition, biases, and erroneous mental shortcuts, and how these patterns of thought can hold us back.

About Daniel Kahneman

Daniel Kahneman, born March 5, 1934, is a psychologist famous for his work related to the psychology of human judgment and decision-making. He, along with Vernon Smith, received the 2002 Nobel Memorial Prize in Economic Sciences. In 2011, Foreign Policy magazine named Kahneman to its list of top global thinkers. The same year, Kahneman published Thinking, Fast and Slow , which summarizes much of his decades of research and is now a best seller. Kahneman is now professor emeritus of psychology and public affairs at Princeton.

Please note that the book youre reading right now is not meant to be a substitute for Thinking, Fast and Slow but, instead, a supplement. We recommend using it to quickly refresh yourself on the key principles found in Kahnemans book and to bolster your understanding of the material with the analysis, discussion questions, and additional resources we provide.

Thirty Second Summary

Kahneman challenges us to question the biases we carry with us, which color even what we consider to be pure intuition. He notes that all human beings make certain unconscious assumptions without first carefully examining the truth behind those assumptions. He shows us how to overcome this way of thinkingthe trick is to be aware that certain heuristics we carry with us in our brains can lead us astray. He spends the majority of his book examining each of these heuristics in depth.

2. The Brains Two Systems

Key Concepts

T HERE ARE TWO SYSTEMS in our brains. One of those systems operates very quickly, the other more slowly. The first system functions automatically, intuitively, and involuntarily while the second employs more deliberation, reasoning, and concentration. The two systems can work symbiotically but quite often conflict with each other.

System 1 may employ heuristics[1] that are inaccurate or too hastily formed while System 2 requires some effort to function correctly and is prone to error and miscalculation. System 1 is the system responsible for our intuitions, feelings, and impressions, which System 2 then turns into beliefs and calculated actions. System 2 is slow to react and System 1 is quick to react. The operations of System 2 require focus and are disrupted when attention is diverted away from those operations. System 2 can alter the way System 1 functions, to some degree. In fact, one of the key purposes of System 2 is to overcome System 1s impulses. This is where self-control comes in.

System 2, unlike System 1, can follow rules and make intelligent and deliberate choices. System 2 can also create rules based on impressions gleaned from System 1. Crucially, System 2 can program our memories so that we behave in a way that overrides habitual, instinctive, System 1 responses. System 2 is the system responsible for self-control and is the main system in charge when things get difficult. Ultimately, System 2 has the last word over System 1.

Multi-tasking that requires System 2 to simultaneously dedicate itself to more than one task is often overwhelming and unproductive. However, multi-tasking that makes use of System 1 and System 2 concurrently is more manageable and effective.

Ten Second Recap

• There are two systems in the brain, known as System 1 and System 2.
• System 1 functions automatically, intuitively, and involuntarily and is responsible for intuition, impressions, and feelings.
• System 2 requires more deliberation, reasoning, and concentration and is responsible for decision-making, self-control, and deliberation.
• System 2 creates rules based on impressions from System 1.
• System 1 works quickly and System 2 works slowly.
• If youre going to multi-task, dont do multiple things that require the use of System 2.

Further Reading

• Dual Process Theory
• Kahneman's Mind-Clarifying Strangers: System 1 & System 2
• The Two Brain Systems that Control Our Attention

3. The Busy System and the Lazy System

Key Concepts

S YSTEM 1 IS ALWAYS on, always busy, always searching for answers. System 1 controls everything we do that is automatic, unconscious, and instinctive. System 1 feeds us information whether we seek that information or not. It creates prejudices, tells us when we like things or dislike things, feeds our impressions, and causes our involuntary behaviors.

System 2 performs tasks of which System 1 simply is not capable. Therefore, the two systems must work together to create a well-functioning mind. System 2 is slow and lazy. The law of effort, which applies to both our physical exertion and our mental exertion, dictates that System 2 seeks to do its jobs with as little effort as possible. Thus, laziness is built into our very nature. This is why our minds employ heuristics to get the job done.