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July 19, 2018

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The Economist Who Realized How Crazy We Are

 

There's now a fairly long list of intellectuals responsible for the spread of this subversive idea. Somewhere near the top of it is the economist Richard Thaler, who has just published an odd and interesting professional memoir, "Misbehaving." It's odd because it's funnier and more personal than books by professors tend to be. It's interesting because it tells the story not just of Thaler's career but also of the field of behavioral economics -- the study of actual human beings rather than the rational optimizers of classical economic theory. 

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