Objective Prosperity: How Behavioral Economics Can Improve Outcomes for You, Your Business, and Your Nation
by Roger D. Blackwell, Ph.D., Retired Professor, The Ohio State University and Roger A. Bailey, Ph.D., Clinical Assistant Professor, The Ohio State University
Every person comes from a different background, with different skillsets, constraints, weaknesses, and strengths. Identifying ways to increase your prosperity is made even more challenging by the reality that the success of your nation’s economy can dramatically affect your own success. This is why it’s important to understand behavioral economics and how it can improve these outcomes on both a micro and macro level.
Politicians, prickly pundits, and pompous TV personalities will promise answers for you and your nation, but consider this: Are there really one-size-fits-all answers to improve prosperity?
Blackwell’s and Bailey’s Keys to Prosperity can put you on the right path!
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“This book, Objective Prosperity, will make you think. What factors influence the chances for individual success and national prosperity? How does behavioral economics help us understand who is financially rewarded? How can you prosper even if you were born poor? What is the best way to manage your savings? The authors cite the thoughts of many profound thinkers on how to live a rewarding life.”
– Philip Kotler, S.C. Johnson & Son Distinguished Professor of International Marketing, emeritus, Kellogg School of Management, Northwestern University
“I really connected with the chapter that discusses the effort that must be put into those things that we find worthwhile or valuable to move us forward in our lives – mentors, discipline, education, personal responsibility, and individual responsibility.” – Deborah M. O’Brien, BS, RN, MPA, President, and Chief Executive Officer, Community Resources for Justice
“This book, Objective Prosperity, is a profound analysis of the roles of business, government, education, and personal responsibility in growing prosperity for everyone.” – Loretta Berryhill, California Business Owner
“You will enjoy reading this book. The authors “colorize” principles with real-world examples from the individual (micro) level to that of nation-states (macro). Examples of successful (and less so) country policies are truly telling. They apply to political, business, and civic leaders not only at the federal but also at the state and local levels as well. The “solutionist” thread weaving its way through the book presents a unique perspective on how to approach issues on a broad range of topics.” – The Hon Sunil Sabharwal, former US board member to the International Monetary Fund, global Olympic sports leader, investor, and champion fencer.
“This book is one of the first that I could not put down the first read and enjoyed reading it the 2nd and 3rd times even more. Each time I found new thoughts expanding through my head. One is that we can no longer broad brushstroke economic models with the multi-layered behavioral changes around us in this hyper-informational age. This book is a must-read for any entrepreneur, like me in the automotive industry, to keep our eyes open to the rapidly changing consumer environment and how to think ahead.” – Rhett C. Ricart, Chief Executive Officer and Dealer Principal, 2020 Chairman National Automobile Dealers Association
“There are few things more powerful than understanding why people behave the way they do. Here, the leading teacher of consumer behavior for the past half-century, with an accomplished marketing and economics colleague, explains it. This book is a virtual treasure chest of knowledge and understanding, about how behavioral economics helps people reach their ultimate objective – prosperity.” – John Mariotti, President & CEO, The Enterprise Group
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How Objective Prosperity Will Help You Understand Behavioral Economics And How It Can Help Improve Outcomes For You And Your Business
This is not a book of simple answers to all of the world’s problems. There are certainly enough “expert opinions” on the planet to go around. Instead, this book provides a method for you to arrive at your own answers not driven by upcoming elections and TV ratings. Throughout the text, there will be a number of explanations, recommendations, and examples to identify solutions to improve your own prosperity and evaluate the policies that seek to improve the economy around you.
If you want to get the most out of this book, consider a few ground rules. First, try to approach the examples with as little bias as possible. Consider that this is far easier said than done. Biases, positive or negative, are learned predispositions to the environment around us. Just like every person has different strengths and weaknesses, every person also comes with different biases. Strong beliefs about the way things should be should not stop you from being able to evaluate a situation thoroughly and carefully. This book provides a behavioral-economics-based (data-based) view of prosperity that avoids the pitfalls of using preformed opinions and subsequent biases. In short, drop the dogma and dig into the data!
Second, this book will walk you through the opinions of multiple sources. Evaluation of the authoritative opinions of others allows you access to valuable information you may not otherwise consider. However, like every person, these sources will frequently have a slant to them (politically or otherwise), and yes, some may even include false or misinterpreted information! To help maintain objectivity, you should consider sources from different perspectives, not just those you are most comfortable with. The frequent quotes and references in the text provide further resources, but also highlight the importance of evaluating expert opinions in drawing conclusions for yourself.
In addition, each chapter includes a few “Keys to Prosperity.” These examples, quotes, and discussions are provided as practical insights from the authors. Consider these a base point to work from as you evaluate your own situation, the situation of those around you, the current state of your nation’s economy, and how you might take action to improve your prosperity in light of these things!
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