Behavioral Economics Inspirational Quotes

If we all make systematic mistakes in our decisions, then why not develop new strategies, tools, and methods to help us make better decisions and improve our overall well-being? That's exactly the meaning of free lunches- the idea that there are tools, methods, and policies that can help all of us make better decisions and as a consequence achieve what we desire-pg. 241

Those who choose to live criminal lives are not the brightest among us. This truth inspires a question: If evil geniuses are so rare, why do so many bad people get away with so many crimes against their fellow citizens and, when they become leaders of nations, against humanity? Edmund Burke provided the answer in 1795: The only thing necessary for the triumph of evil is for good men to do nothing. I would only add this: It is also essential that good men and women not be educated and propagandized into believing that real evil is a myth and that all malevolent behavior is merely the result of a broken family’s or a failed society’s shortcomings, amenable to cure by counseling and by the application of new economic theory.

Caroline’s project faces extreme uncertainty: there had never been a volunteer campaign of this magnitude at HP before. How confident should she be that she knows the real reasons people aren’t volunteering? Most important, how much does she really know about how to change the behavior of hundreds of thousand people in more than 170 countries? Barlerin’s goal is to inspire her colleagues to make the world a better place. Looked at that way, her plan seems full of untested assumptions—and a lot of vision. In accordance with traditional management practices, Barlerin is spending time planning, getting buy-in from various departments and other managers, and preparing a road map of initiatives for the first eighteen months of her project. She also has a strong accountability framework with metrics for the impact her project should have on the company over the next four years. Like many entrepreneurs, she has a business plan that lays out her intentions nicely. Yet despite all that work, she is—so far—creating one-off wins and no closer to knowing if her vision will be able to scale. One assumption, for example, might be that the company’s long-standing values included a commitment to improving the community but that recent economic trouble had resulted in an increased companywide strategic focus on short-term profitability. Perhaps longtime employees would feel a desire to reaffirm their values of giving back to the community by volunteering. A second assumption could be that they would find it more satisfying and therefore more sustainable to use their actual workplace skills in a volunteer capacity, which would have a greater impact on behalf of the organizations to which they donated their time. Also lurking within Caroline’s plans are many practical assumptions about employees’ willingness to take the time to volunteer, their level of commitment and desire, and the way to best reach them with her message. The Lean Startup model offers a way to test these hypotheses rigorously, immediately, and thoroughly. Strategic planning takes months to complete; these experiments could begin immediately. By starting small, Caroline could prevent a tremendous amount of waste down the road without compromising her overall vision. Here’s what it might look like if Caroline were to treat her project as an experiment.

What defines man us not hp the capacity to create a second nature--economic, social or cultural--beyond biological nature; it is rather the capacity of going beyond created structures in order to create others...These acts of the human dialectic all reveal the same essence: the capacity of orienting oneself in relation to the possible, to the mediate, and not in relation to a limited milieu...Thus, the human dialectic is ambiguous: it is first manifested by the social or cultural structures, the appearance of which it brings about and in which it inspires itself. But it's use - objects and its cultural objects would not be what they are if the activity which brings about their appearance did not also have as its meaning to reject them and to surpass them.

Fighting injustice can have a way of turning people against each other instead of being able to clap back at the origins of the problems. Tackling the deep and complex work of combating racial, social, economic, and environmental injustice and working for access, equity, equality, eradicating ism's, peace, and ensuring human sustainability requires boldness, humility, hyper-vigilance, and relentless commitment to accountability...

Yes, it is difficult to believe that we are not entirely rational in our daily decisions and actions. However, by admitting that we are biased, realizing that we should question our choices, and stepping outside of our comfort zone, we are able to open up our eyes to a whole new horizon.

Authoritarians rise when economic, social, political, or religious change makes members of a formerly powerful group feel as if they have been left behind. Their frustration makes them vulnerable to leaders who promise to make them dominant again. A strongman downplays the real conditions that have created their problems and tells them that the only reason they have been dispossessed is that enemies have cheated them of power. Such leaders undermine existing power structures, and as they collapse, people previously apathetic about politics turn into activists, not necessarily expecting a better life, but seeing themselves as heroes reclaiming the country. Leaders don’t try to persuade people to support real solutions, but instead reinforce their followers’ fantasy self-image and organize them into a mass movement. Once people internalize their leader’s propaganda, it doesn’t matter when pieces of it are proven to be lies, because it has become central to their identity. As a strongman becomes more and more destructive, followers’ loyalty only increases. Having begun to treat their perceived enemies badly, they need to believe their victims deserve it. Turning against the leader who inspired such behavior would mean admitting they had been wrong and that they, not their enemies, are evil. This, they cannot do.