Stories tagged with "behavioral economics"

Down the Rabbit Hole

This is guest post by Sharon Astyk. In the CNBC interview mentioned, Taleb says that our money system can't be based on debt, which is very different from what most are thinking.

“It was much pleasanter at home, when one wasn’t always growing larger and smaller, and being ordered about by mice and rabbits.” - Alice in Wonderland


Rod Dreher has a fascinating observation over at his blog. He talks about watching an interview on CNBC with Taleb and Roubini:

Both men are notorious bears, and called the current crash long in advance. Both, CNBC tells us, were the hottest tickets at the recent Davos gathering. CNBC called them in to discuss the crisis. Roubini and Taleb were both trying to make their case for why what’s wrong with the economy is radical, is fundamental, goes to the very base of all our economic assumptions.

The CNBC twits just wanted stock tips and investing advice.

Living for the Moment while Devaluing the Future

(This is a repost of Climate Change, Sabre Tooth Tigers and Devaluing the Future" with a few edits and additions. The original story and comments can be found here.)

The debate on the realities of both climate change and Peak Oil has moved from 'are they real?' to questions concerning timing, magnitude and impact. At the same time, expanding research in 'temporal discounting' in economics (called 'impulsivity' in psychology), is shedding light on how steeply we value the present over the future, a trait with ancient origins. Knowing this tendency, how can we expect factual updates on peak oil and climate change to behaviorally compete with Starbucks, sex, slot machines, and ski trips? Science is rapidly increasing our knowledge about the planet. To affect change however, we might have to become equally knowledgeable about ourselves. Below the fold is an overview on human discount rates, their evolutionary origins, and their relevance to the mitigation and adaptation to climate change and peak oil.


"Dumbo, caught obsessing about higher planetary CO2, did not leave any descendants"