The Five Life Decisions: How Economic Principles And 18 Million Millennials Can Guide Your Thinking by Robert T. MichaelThe Five Life Decisions: How Economic Principles And 18 Million Millennials Can Guide Your Thinking by Robert T. Michael

The Five Life Decisions: How Economic Principles And 18 Million Millennials Can Guide Your Thinking

byRobert T. Michael

Paperback | August 5, 2016

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Choices matter. And in your teens and twenties, some of the biggest life decisions come about when you feel the least prepared to tackle them.

Economist Robert T. Michael won’t tell you what to choose. Instead, he’ll show you how to make smarter choices. Michael focuses on five critical decisions we all face about college, career, partners, health, and parenting. He uses these to demonstrate how the science of scarcity and choice—concepts used to guide major business decisions and shape national legislation—can offer a solid foundation for our own lives. Employing comparative advantage can have a big payoff when picking a job. Knowing how to work the marketplace can minimize uncertainty when choosing a partner. And understanding externalities—the ripple of results from our actions—can clarify the if and when of having children.

Michael also brings in data from the National Longitudinal Survey of Youth, a scientific sample of 18 million millennials in the United States that tracks more than a decade of young adult choices and consequences. As the survey’s longtime principal investigator and project director, Michael shows that the aggregate decisions can help us understand what might lie ahead along many possible paths—offering readers insights about how their own choices may turn out.

There’s no singular formula for always making the right choice. But the adaptable framework and rich data at the heart of The Five Life Decisions will help you feel confident in whatever you decide.
Robert T. Michael is the founding dean and Eliakim Hastings Moore Distinguished Service Professor Emeritus of the Harris School of Public Policy Studies at the University of Chicago. He is also a senior fellow at the National Opinion Research Center at the University of Chicago. His eight books include the coauthored Sex, Love, and Hea...
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Title:The Five Life Decisions: How Economic Principles And 18 Million Millennials Can Guide Your ThinkingFormat:PaperbackDimensions:232 pages, 9 × 6 × 0.8 inPublished:August 5, 2016Publisher:University of Chicago PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:022635444X

ISBN - 13:9780226354446

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Reviews

Table of Contents

Acknowledgments

1: Making Choices
2: More Schooling?
3: Choosing an Occupation
4: Choosing a Partner
5: Parenting
6: Health Habits
7: Wrapping Up

Appendix: Teenage America at the Beginning of the New Millennium
Glossary
Sources of Information
Notes
Index
 

Editorial Reviews

“This is a fantastic book that every young person should read. Michael equips us to think harder about fundamental life decisions. When it comes to difficult choices, the scientific research summarized in The Five Life Decisions can truly help.”