Rethinking Human Behavior
Explore the limitations of economic models and the challenges of predicting human behavior in a world of radical uncertainty. John Kay challenges the "as if" idea of people maximizing their actions, highlighting the flaws in making predictions based on this assumption. Discover why macroeconomic forecasts often fall short and the complexities of navigating a changing world governed by ever-evolving laws of behavior.In this clip
From this podcast
EconTalk
John Kay and Mervyn King on Radical Uncertainty
Related Questions
What were Milton Friedman's core beliefs?
What were Milton Friedman's core beliefs as discussed in the episode Binyamin Appelbaum on the Economists' Hour and the clip Friedman's Monetary Policy?
Can economic predictions be trusted in the episode James Heckman on Facts, Evidence, and the State of Econometrics and the clip The Limits of Economic Knowledge?