474. All You Need Is Nudge

Freakonomics Radio

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Documentary, Society & Culture

4.6 • 32K Ratings

🗓️ 9 September 2021

⏱️ 59 minutes

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Summary

When Richard Thaler published Nudge in 2008 (with co-author Cass Sunstein), the world was just starting to believe in his brand of behavioral economics. How did nudge theory hold up in the face of a global financial meltdown, a pandemic, and other existential crises? With the publication of a new, radically updated edition, Thaler tries to persuade Stephen Dubner that nudging is more relevant today than ever.

Transcript

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0:00.0	I know we're talking about Nudge, but I also know that you like what you like and you
0:07.8	don't like what you don't like.
0:09.3	And you can be a little, no offense, you can be a little touchy sometimes.
0:13.8	Touchy?
0:14.8	You call me touchy?
0:17.0	No, no, not touchy.
0:18.9	Touchy.
0:19.9	What?
0:20.9	I don't even know what word you're saying.
0:23.6	Sensitive?
0:26.2	We could go with sensitive, but maybe the best word to describe the man on the other microphone
0:31.4	today is cranky, at least situationally cranky.
0:36.4	He's pleasant enough, most of the time, but in certain circumstances, he becomes a bit
0:41.4	of a cranky pottomus, especially when something isn't working the way it's supposed to.
0:46.4	Like when you go to pay your taxes or get a mortgage and you're suddenly tossed into
0:51.1	a quagmire of fine print and red tape.
0:54.9	Or think about navigating the healthcare system or managing your retirement savings.
0:59.8	There's so much low hanging fruit because so many things are done so stupidly.
1:07.4	I should probably tell you the name of this situationally cranky man.
1:11.3	It's Richard Faler.
1:12.4	He is an economics professor at the University of Chicago.
1:15.7	For years, he collaborated with the pioneering psychologist Danny Connman and Amos Tversky
	...

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