This is Planet Money from NPR.

Can it let's start the show with some words.

Availability heuristic.

Hyperbolic discounting.

Stated versus revealed preference.

These words are all economic terms, social science terms.

And I hear words phrases like these, and sometimes I think, come on, do we really need phrases for these things?

Take availability heuristic, for example.

You know, that is obviously a set of overly complicated words, sure.

But the questions, do we even need that phrase?

Because availability heuristic is just what economists call that thing,

where we overestimate the odds of a plane crash and underestimate the odds of a car wreck.

Because when a plane crashes, it's huge news.

We hear all about it, and car wrecks happen all the time, and we never hear about those.

It is true, and if I had just said availability heuristic, it would have been much faster than that.

So we agree on faster, but I'm going to make the case that it's more of a big deal.

That's what I'm going to say, and I'm going to say, that's what I'm going to say.

That's what I'm going to say, and I'm going to say, that's what I'm going to say.

That's what availability heuristic means.

It would certainly be easier to understand, and you wouldn't sound like a schmuck going around saying heuristic all the time.

But I'm going to make the case that it's more than that.

I feel like even inside my own mind, just as I am moving through the world,

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