EXTRA: People Aren’t Dumb. The World Is Hard. (Update)
15 July 2024 - 53 minsYou wouldn’t think you could win a Nobel Prize for showing that humans tend to make irrational decisions. But that’s what Richard Thaler has done. In an interview from 2018, the founder of behavioral economics describes his unlikely route to success; his reputation for being lazy; and his efforts to fix the world — one nudge at a time.
SOURCES:Richard Thaler, professor of behavioral science and economics at the University of Chicago.
RESOURCES:“Behavioral Economics,” by Richard Thaler (The Past, Present, and Future of Economics: A Celebration of the 125-Year Anniversary of the JPE and of Chicago Economics, December 2017).Misbehaving: The Making of Behavioral Economics, by Richard Thale...
Series Episodes
The Most Powerful People You’ve Never Heard Of (Update)
Just beneath the surface of the global economy, there is a hidden layer of dealmakers for whom war, chaos, and sanctions can be a great business opportunity. In this updated episode from 2025, journalists Javier Blas and Jack Farchy help us shine a light on the shadowy realm of commodity traders.
1 hour 6 mins
4 March Finished
665. Werner Herzog Isn’t Afraid ...
... of bad reviews, meager financing, or artificial intelligence. But he is worried that the world is full of sloppy thinkers who mistake facts for the truth.
49 mins
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664. Are Thousands of Medical Cures Hiding in Plain Sight?
Existing drugs can sometimes be repurposed to treat rare diseases. But making that match can be hard — and the financial incentives are weak. Guest host Steve Levitt tries to solve the puzzle.
51 mins
20 February Finished
All You Need Is Nudge (Update)
When Richard Thaler first published Nudge, the world was just starting to believe in his brand of behavioral economics. In this 2021 episode, we ask: How has nudge theory held up in the face of a global financial meltdown, a pandemic, and other existential crises?
57 mins
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663. Is Weed a Performance-Enhancing Drug?
The science says no, at least not in the athletic sense. But the psychic benefits can be large — just ask former N.F.L. star Ricky Williams. He says athletes should consider cannabis a healing drug, not a party drug. Even the N.F.L. is starting to agree. (Part two of a two-part series.)
50 mins
13 February Finished
662. If You’re Not Cheating, You’re Not Trying
In sports, the rules are meant to be sacrosanct. But when it comes to performance-enhancing drugs, the slope is super-slippery. (Part one of a two-part series.)
52 mins
6 February Finished
