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How Do You Think Kahneman's Article On Mindset That Promotes Resilience

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Question # 3 Dueck and Kahneman Dueck’s article on Mindset that promotes resilience focused on educational challenges and individual resilience. Dueck highlights two different mindsets – a fixed mindset (entity theory) and an incremental/growth mindset (incremental theory). According to Dueck, individuals with a fix mindset are more likely to give up when facing adversities, while those with an incremental mindset are more likely to be resilient (work harder and not give up). Both types of individual exhibit different behavioral characteristics that have implications on the market place. For instance, individuals with an incremental (growth) mindset are considered to be hard workers, dynamic individuals and better at resolving solutions. These individuals are considered be critical thinkers and better entrepreneurs than their counterparts with fixed mindsets. From a financial perspective, incremental mindset individuals contribute to the market place by creating businesses and ensuring that the business flourish – they make great investors. On the other hand, those with a fixed mindset often give up easily; therefore, these individuals demonstrate less resilience in the market place and elsewhere. Individuals with a fixed mindset would fail …show more content…

According to Kahneman, individuals have different motives, they are considered to be irrational, and their preferences do not change. As a result of characteristics displayed, individuals are not able to make the best decisions, thus influencing the economy. When individuals are unable to make good decisions, there is an adverse effect on the economy. For instance, poor financial decisions result in situations like bankruptcy and the 2008 economic downturn. These occurrences affect not just the individual making the decision, but society as a

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