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Richard Thaler with Malcolm Gladwell on Misbehaving

Behavioral economist Richard Thaler talks to bestselling author Malcolm Gladwell on the implications of behavioral economics on how we think about the world, from our personal lives to business to society. They will have you retooling your grocery list and retirement strategies, and lead managers to rethink every aspect of their business.

 

 

60:30

this is an important point someone who

has always been the the A+ student this

the court feel are the obvious smartest

kid in the room right golden boy is

someone who is who is not powerfully

motivated to disrupt the status quo

right right right is rare going I see

where you’re going

look no I think it’s an obvious point

that if I were if I had been really good

at doing economics I wouldn’t have had

to do this you know all right

I mean I sure when Rosen my advisor I

quote him in the in in an article in The

New York Times he told the reporter who

asked about my career as a grad student

quote we didn’t expect much of him yeah

and you it’s always good to have you

I think it’s been pure

stupidity that we haven’t been building

roads bridges and so forth

for the last seven years when we we

could we can borrow at a negative

interest rate and use otherwise idle

resources I mean it’s just mind boggling

that we haven’t done that and and you

don’t have to be a Keynesian to think

that so whether or not this would

stimulate the economy let’s just suppose

we do just cost-benefit analysis we have

bridges that are all going to fall down

all around the country we could be

building them with construction crews

that have nothing to do and borrowing at

zero interest rate and we’re going to

have to do start doing it as soon as the

economy picks up when it will cost a lot

more so complete stupidity