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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Don’t Buy It summary
Anat Shenker-Osorio
The Trouble with Talking Nonsense About the Economy
20 mins
Brief summary
Don't Buy It by Anat Shenker-Osorio reveals the ways in which advertisements mislead, manipulate, and deceive us. It offers insights into how we can resist their influence and make more informed consumer choices.
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Don’t Buy It
Summary of 8 key ideas
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Key idea 1 of 8
The financial crisis exacerbated the deep inequality that has long plagued the American economy.
Open up any newspaper and you’ll encounter politicians, analysts and journalists attributing all of society’s economic problems to the 2007 financial crisis. But in reality, there were deep economic problems long before that, especially with respect to wealth and income inequality.
In the decades leading up the crisis, real wages (adjusted for inflation) were stagnant, even while corporate profits were skyrocketing and overall economic productivity was on the rise.
As a result of these factors, wealth moved toward the top of society: today, 84 percent of wealth in the United States is owned by just 20 percent of Americans.
And that’s a problem for two reasons, the first being psychological: studies show that societies with greater levels of inequality have lower levels of contentment overall, with grave psychological consequences for those at the bottom.
The second reason is economic: the United States is dependent on consumer expenditure for economic growth. Since declining wages – and thus, declining disposable income – reduce consumer demand, economic output also declines as a result.
So, as we’ve established, inequality was a problem long before the 2007 financial crisis. But that doesn’t mean that the economic collapse didn’t add insult to injury.
According to the Economic Policy Institute, 25 percent of American households experienced zero or negative net growth in 2009, up from 18.7 percent of households in 2007. And even more shockingly, that number rises to 40 percent when only taking into account African-American households.
Worst of all, individuals facing foreclosure, poverty and unemployment received no federal assistance after the economic crisis. Meanwhile, the financial sector was bailed out by the government.
Taken together, the crisis revealed the intense financial pressure facing households in the United States’ middle- and low-income brackets. In the following blinks, we’ll find out how Americans responded, and whether the downturn led to any meaningful policy changes.
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What is Don’t Buy It about?
Don’t Buy It (2012) explores the ways language influences our understanding of complex issues. Anat Shenker-Osorio brings her research and expertise to bear on a question that plagues progressives: why do conservatives always win economic debates in the United States, despite the deep inequality and structural injustice epitomized by the financial crash and the Great Recession? These blinks answer this question by analyzing the language employed on either side of the political spectrum.
Don’t Buy It Review
Don't Buy It (2022) presents a fresh perspective on how to break through the noise of marketing and make informed choices. This book is definitely worth reading because:
- It uncovers strategies used by advertisers and reveals how we can resist their influence, empowering us to become more savvy consumers.
- Anat Shenker-Osorio's research and examples shed light on the power dynamics at play in advertising, giving readers a deeper understanding of how messaging affects us.
- By debunking common myths and incorporating personal anecdotes, the book actively challenges the notion that advertising is inherently boring.
Best quote from Don’t Buy It
Examples of likening the economy to something natural, most often a body, abound.
—Anat Shenker-Osorio
Who should read Don’t Buy It?
- Anyone who identifies as a political progressive
- Anyone who’s interested in how language affects societies
- Students of English, economics, sociology and politics
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Don’t Buy It FAQs
What is the main message of Don’t Buy It?
Question everything before making a purchase.
How long does it take to read Don’t Buy It?
Reading time for Don't Buy It varies, but the Blinkist summary can be read in 15 minutes.
Is Don’t Buy It a good book? Is it worth reading?
Don't Buy It is worth reading for its insights into consumerism and persuasive advertising techniques.
Who is the author of Don’t Buy It?
The author of Don't Buy It is Anat Shenker-Osorio.
What to read after Don’t Buy It?
If you're wondering what to read next after Don’t Buy It, here are some recommendations we suggest:
- Lawyers, Liars and the Art of Storytelling by Jonathan Shapiro
- The Laws of Human Nature by Robert Greene
- Manufacturing Consent by Edward S. Herman and Noam Chomsky
- Critical Thinkers by Albert Rutherford
- Getting to Yes by Roger Fisher
- Ending Aging by Aubrey de Grey
- The Next Level by Scott Eblin
- Growth by Daniel Susskind
- The Republic by Plato
- Help Me, I'm Stuck by Vaughn Carter