Big Think Interview With Richard Thaler | Big Think

[@bigthink]

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[@mattanon1146]

If only we had more "well-intentioned" capitalism. How much better could our capitalistic system be on our psychological well being.

[@shadabfariduddin6784]

It is an impossibility: WIC

[@ptanyuh]

If I may suggest that you put the questions in audio form in some way, that'd be great. A lot of people like to just listen to videos and not being able to hear the questions makes it unlistenable. Thank you.

[@deepintheslums]

This guy is so inspiring. A great mind, indeed

[@Sakhmeov]

+System D Yah, and what he says about "skin in the game" is entirely right. But in the interest of having fundamentally correct incentivization, is that really all there's to be said? I'm just about convinced that there should be no such thing as banks as separate companies. Seriously. I mean, when the business and the product are both money, what do you get? Banks have only administrative and locale expenditures, and can only strengthen their market position by piling up more cash. More cash means more investment basis, so you can make more bonds and lend more money, and get an even bigger piece of the market. You do this, and keep tiding it back and forth, and that's how you make money off banking. Well, how do you strengthen your position, without having to wait so damn long to build up capital? You can cut wages or expenditures immediately, or make the trading communication more efficient, but... those are both money-saving and not immediately effective efforts, and they're difficult and come with their own host of problems. No, it's much better if you can just "create" money in one big go, so you can get off the starting block real quick. How? Well, you overvalue some stuff, you write more bonds than you have securitization for, you use some loophole in law or lack of policy overwatch to make quick money off a risky business which you consider yourself dissociated from and which you can then put to work immediately even though it isn't backed by any actual productivity, and then if you can overinsure this money so you get even more returns once it "disappears"... Ring any bells? This guy was in a movie recently? I seriously think that it's not enough to make it so that you can't short bonds for more than their present value plus accrued premiums. I think we need to make it impossible for banks to exist as separate business ventures. That we need to make it so that only corporations who are in production or service and who hold real assets and contracts, and governments who are willing to make bonds of portions of the actual government and its estate, will be allowed to act as banks.

[@Homunculas]

He's a modern day Goebbels.

[@jimparsons6803]

Liked his comments and observations in the movie, 'The Big Short.' Explained a lot. The comments and the movie.

[@TheBlaise91]

Congratulations, professor!

[@bearram9481]

In a system that were less corrupt these measures might be helpful. But currently it'd be lipstick on a pig. There are some massive reforms needed!

[@ulugbekqulliyev7870]

Good Job professor

[@sidharthgunajirakshase9260]

it's very nice thought

[@hadleybarton1940]

Sidharth Rakshase yes thank you

[@ivertabe]

من الدحيح ؟ 😆

[@Ahmed-hg5tk]

طلع فيه ناس يشوفون المصادر😂

[@عمرهانى-و1ش]

انا اهو🙋‍♂

[@hadleybarton1940]

richard you have good idea

[@iderouhaga]

If you see this video after nobel prize ,like ;)

[@modygamer3234]

الدحيح😂❤

[@rafaelmendez49]

When my boys were young, I would throw Cheerios in the toilet to help their aim. Moms have known this for years. The explanation is not evolution, it’s play

[@nupurnishant4907]

3:26 . A jibe at Nassim Nicholas Taleb, I see.

[@AZKathy07]

It's really sad that companies are so greedy that they have no morality and respect for peoples personal lives. Instead of relying on the quality of their product, they have to use coercion to sell it. What does that say about the quality of their product. The Government is a much bigger issue. Their need for power and control reflects the status of their character and mental state. Maniacal if you as me. Normal people don't need to control everything, nor do they want it. Can you imagine being in control of everything? I have too much to do being in control of myself and my responsibilities!! That's not something I'm remotely would want.

[@tuckerbugeater]

you live in a fantasy world

[@AZKathy07]

@@tuckerbugeater Do I? Think about your moronic statement?

[@UokAbdullahTayes]

👏🏼

[@3lpancho657]

Ok

[@tuckerbugeater]

yet few organizations copy successful nudges

[@supersugainfo7341]

I desagree because if people where more motivated to use the commom sense laws would be useless

[@teaoh4485]

Common sense is a myth. IQ’s and education levels differ.

[@supersugainfo7341]

@@teaoh4485 totally wrong inteligence can be learned e developed common sense is what differs a human being from an animal if someone does not have it, is dangerous to be close to that person, IQs and education levels differ thats right

[@59trek]

Where does AI come into this

[@lugovicsergej]

in design of irrational agents

[@tuckerbugeater]

lol@@lugovicsergej

[@UokAbdullahTayes]

👏🏼