Category: Series

In the later part of the 20th century, a pioneering group of economists started shaking up their academic field.

These “behavioural economists” used findings from experimental psychology and everyday life to challenge the prevailing view that human beings were rational decision makers – acting in predictable ways to maximize their wealth.

One of those pioneers was Richard Thaler, who noted down some of these “anomalies” in a column in the 1980s, which was turned into a book - The Winner’s Curse - first published in 1992. His work also won him the Nobel memorial prize in economics in 2017.

More than 30 years on, he has returned to that book, publishing a new, updated version with co-author Alex Imas, which looks at whether those anomalies in rational thinking have stood the test of time.

Tim asks him to set out two of his most famous ideas – the winner’s curse itself, and the idea of “mental accounting”.

Presenter: Tim Harford Series producer: Tom Colls Sound mix: Donald MacDonald Editor: Richard Vadon

For 150 years, Thanksgiving has been primarily an apolitical holiday that's really about family fun and eating a huge meal.

Original article: https://mises.org/mises-wire/thanksgiving-celebration-domestic-life

The first English settlers in America learned a hard lesson about socialist economics in the early years of their new colonies as they faced starvation. Once they embraced free enterprise, however, they had something to be thankful for.

Original article: https://mises.org/mises-wire/thanksgiving-celebration-free-enterprise

From the perspective of the state, the ideal society is one composed of single parents raising a small number of children in irreligious households.

Original article: https://mises.org/mises-wire/families-are-key-building-alternatives-state

In the wilderness of the New World, the Plymouth Pilgrims had progressed from the false dream of communism to the sound realism of capitalism.

Original article: https://mises.org/mises-wire/thanksgiving-celebrating-birth-american-free-enterprise

Is your Thanksgiving dinner more or less affordable this year? Human Progress's Marian Tupy joins the Cato Institute's Ryan Bourne to discuss the political battle over affordability, the long-term costs of high inflation, and how time-prices show most goods becoming more abundant over time. Plus, the pair discuss human progress developments and why they are both thankful for the USA.

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Public sector economics is a fundamental piece of the discipline. So we wanted to give our hosts an opportunity to put their knowledge to the test in a game we’re calling Indicator Quizbowl. Today on the show, Wailin and Darian go head to head to see who the bigger public policy nerd is.

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