Before "Freakonomics" and "The Tipping Point" there was this classic by the 2005 Nobel Laureate in Economics. "Schelling here offers an early analysis of 'tipping' in social situations involving a large number of individuals."--official citation for the 2005 Nobel Prize "Micromotives and Macrobehavior" was originally published over twenty-five years ago, yet the stories it tells feel just as fresh today. And the subject of these stories--how small and seemingly meaningless decisions and actions by individuals often lead to significant unintended consequences for a large group--is more important than ever. In one famous example, Thomas C. Schelling shows that a slight-but-not-malicious preference to have neighbors of the same race eventually leads to completely segregated populations. The updated edition of this landmark book contains a new preface and the author's Nobel Prize acceptance speech.
Thomas C. Schelling is the co-winner of the 2005 Nobel Memorial Prize for Economic Science. He is Distinguished University Professor Emeritus of Economics and Public Policy at the University of Maryland. He lives in Bethesda.