By Kevin Kunst
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January 8, 2024
Over my thirty years in education, I have had the opportunity maybe four or five times to teach Economics or A.P. Economics, usually to juniors and seniors in high school. When I do, the first lecture is always an explanation that economics is effectively the study of (and science of) choice. Most students are a little taken aback by this simple fact, as they are focused on the traditional lens of economics, which has to do with the movement of money, financial institutions, etc. But I like to spend a good amount of time ensuring that they understand that the principles of economics can be applied to all aspects of their life, regardless of whether that moment or choice involves money. My hope is always that these principles help them (and all of us) make choices well and in spite of the myriad barriers we face and create. The Nobel Prize winning economist Daniel Kahneman, in his book “Thinking Fast and Slow,” argues that “we can be blind to the obvious, and we are also blind to our blindness.” It’s a powerful notion to think that we so often fail to see the obvious through the noise, clutter, and bias that is around us and within us, and humbling to think that we may be blind to a choice or solution due to our own ignorance, or worse, due to our own weakness in consciously scratching our eyes out. As a leader, there is a responsibility to mitigate as much of this blindness as possible, to be aware of our surroundings, to be self-aware, to be an active listener, to be a seeker of truth, and to be one who carefully absorbs inputs. Kahneman calls this System 2 thinking – slower, more deliberate, more logical. Unfortunately, we tend to make System 1 choices – faster, more instinctive, more emotional. While I would argue that there is a place for those type of decisions, as I think does Kahneman and many others, I also have to concede that due to the many expectations of leadership, due to the constraints of limited minutes in the day, and due to a healthy amount of arrogance, I can certainly fall into the trap of overusing System 1 thinking. I love this book and cannot recommend it enough. I also admit that I need to continue to work on applying its principles. As I transition in my career, I find myself needing to slow down and learn what I don’t know, and better apply all that I do know. As a human being in a challenging period in history to be a thought leader, to be independent and free in my beliefs, I must parse everything, applying trust when it is warranted and justified, and healthy skepticism when it is needed. One might define slow as not necessarily a grinding to a halt of all movement, but a pause in a moment, an application of a 360-degree view instead of simply the limited scope that lies in front of us. Kevin Kunst is an engaging public speaker and published writer with years of experience in teaching, management, consulting and education. He is the Vice President of TRQ Solutions. You can contact him at kevin@trqsolutions.com.