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The Yellow Pad

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The Yellow Pad

Making Better Decisions in an Uncertain World

Penguin Press,

15 min read
6 take-aways
Audio & text

What's inside?

Former US Treasury Secretary Robert E. Rubin explains how to govern your decision-making.

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Editorial Rating

9

Qualities

  • Analytical
  • Well Structured
  • Engaging

Recommendation

During a distinguished, diversified career in the public and private sectors, former Goldman Sachs executive and US Secretary of the Treasury Robert E. Rubin faced his share of difficult, controversial decisions. He learned that solid decision-making requires adhering to specific principles. At the same time, he discovered, you must recognize the always unpredictable human element, since no event ever unfolds exactly as planned. Rubin harnesses his knowledge and experience to explain how you can arrive at the best decisions despite life’s uncertainty and complexity.

Summary

A prisoner’s insight made a lasting impression on former US Treasury Secretary Robert E. Rubin.

Robert E. Rubin was having second thoughts. He had accepted a prisoner’s handwritten invitation to speak at San Quentin, the infamous California state penitentiary. Rubin wasn’t certain that men living behind bars would identify with his experiences as a Wall Street executive and Washington political veteran. Several weeks before his visit, he spoke on the phone with a few prisoners.

One inmate, reflecting on his criminal past, explained that reacting is impulsive and emotional, but responding requires you to pause, assess the circumstances, and weigh the possible repercussions of your intended actions. In Rubin’s view, the inmate grasped a concept that eludes many CEOs and policymakers.

Making an informed decision amid intense upheaval requires special skill. Experience alone is insufficient when events unfold at lightning speed because disruption can trigger unwise reflexive behavior.

It’s normal for human beings to react emotionally, particularly amid vast change. To balance such impulses, develop the discipline to acknowledge your emotions while ...

About the Author

Robert E. Rubin spent 26 years with Goldman Sachs and then served as the 70th United States Secretary of the Treasury from 1995 to 1999. He is chairman emeritus of the Council of Foreign Relations and board chairman of the Local Initiatives Support Corporation (LISC). He is co-founder of The Hamilton Project, a Brookings Institution project focused on economic growth.

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