The Reformer
Changing the system from inside it, principle turned into change.
Richard Thaler earns The Reformer by converting what colleagues dismissed as noise into the founding signal of a new discipline. He did not walk away from orthodox economics. He stayed inside it, mapping its anomalies with such rigour that dismissal became impossible.
“I love that. That's a great story. Professor Thaler, thank you so much for being so generous with your time. We're going to wrap right here. I know you have a place to go to from here, and I will see you on the radio tomorrow.”
“You know, I've had this conversation with people that this was early in my career, and I remember getting the calls from people who were significantly older than me saying, hey, I got a ton of profits. I'm rolling a little money out into real estate. I'm picking up that vacation house, or I'm trading up to a bigger property.”
“Whatever your spouse's happiness is. And when you put it into that context, it certainly makes it clear that, hey, if you make your significant other happy, it's going to come back and ultimately raise the ceiling for how happy you yourself can be, but lots of other comments and phrases like that where he is just looking at it slightly a…”
“There's a book I'm almost unreading. I actually put it down to start yours called Last Ape Standing, and it looks at the past 10 million years and that there were approximately 30 species of either human-like or near-human and how the way they've evolved led to some to thrive and some to not make it.”
Masters in Business: “How Investors Fall Into Bias Traps with Economists Richard Thaler & Alex Imas”
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