Errors in decision-making lead young people to under-save for retirement, doctors to miss tumours, CEOs to make catastrophic investments, governments to engage in needless wars, and parents to irreversibly traumatize their children.
Employees speak of being fearful opening emails and feeling increasingly helpless in the face of the deluge. Physiologically, we now know that the state of continuous disruption puts us into a constant state of hormone-induced stress.
We need to know how we are feeling. Mindfully acknowledging our feelings serves as an 'emotional thermostat' that recalibrates our decision making. It's not that we can't be anxious, it's that we need to acknowledge to ourselves that we are.
So key for making smart decisions is a mindset that actively monitors and is open to shifting tides and new information, one that is acutely aware that the interplay between our environment and its outcomes is ever in flux.
Caltech is a very adventurous place. Part of the culture is that we tolerate people doing things that seem impossible, and also synthesizing and borrowing ideas across very kooky and unusual boundaries.
Although economists have studied the sensitivity of import and export volumes to changes in the exchange rate, there is still much uncertainty about just how much the dollar must change to bring about any given reduction in our trade deficit.
Capitalism has been interpreted as an exclusively profit-centric human engagement. Some have been saying to bring people and planet into the picture. This can be a good change, but it is still not fully operationalized. Are you putting people, planet...
Having spent 10 years studying emerging markets, I know that you have patterns repeated over and over again. A bubble is like a fire which needs oxygen to continue... when you see there is no oxygen, things change.
Some of us are interested in directors, but really the vast majority of us are interested in actors. You experience the films through the actors, so they're all locked into your imagination in some kind of layer of fantasy or hatred or wherever they ...
A good memory is surely a compost heap that converts experience to wisdom, creativity, or dottiness; not that these things are of much earthly value, but at least they may keep you amused when the world is keeping you locked away or shutting you out.
I've felt for some time that economics needs to be taught differently by economists who actually have had experience making a payroll or investing on Wall Street. When economics is taught by pure academics, watch out.
Freedom is the one value conservatives place above all others, yet time and again, their ideal of freedom ignores the growing imbalance of power in our society that's eroding the freedoms of most people.
I believe - I'm not a political expert, but I believe there is a broad consensus, a middle ground if you will, that Democrats and Republicans, business people and workers can agree on, to get this - the economy growing faster, getting people back to ...
ACT and SAT each have their own parts of the country. The GRE has its lock on graduate admissions. And so, one could blame the companies, but really, economically, they have no incentive to change things very much because they're getting the business...
The principle that a central bank, charged with controlling inflation, should be independent from the government is unassailable. It may also be true that it's easier for the central bank to guard its independence from political pressure when it main...
If the U.S. Government was a company, the deficit would be $5 trillion because they would have to account by general accepted accounting principles. But actually they encourage government spending, reckless government spending, because the government...
The true principle of taxation is the benefit principle - those who benefit from a government service should pay for it. It's also known as the 'user pay' principle. Every effort should be made to link the payment of taxes or fees to the cost associa...
Those who cry out that the government should 'do something' never even ask for data on what has actually happened when the government did something, compared to what actually happened when the government did nothing.
No one should expect the value of their house to appreciate quickly - counting on your home to be a significant part of your retirement saving isn't a winning strategy - but it is reasonable to expect that prices generally will rise with at least the...
We are living in a time in which movies such as 'Super Size Me' and 'An Inconvenient Truth' have made box-office history, and books such as 'No Logo' and my own, 'The Silent Takeover,' are bestsellers.
I think if you look back through time, the history of income, wealth and taxation is full of surprise. So I am not terribly impressed by those who know in advance what will or will not happen.
