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.
I know we're talking about nudge, but I also know that you like what you like and you don't like what you don't like.
And you can be a little.
No offense, you can be a little touchy sometimes.
Touchy?
You call me touchy?
No, no, no.
Not touchy.
Touchy.
What?
Well, I don't even know what word you're saying.
Sensitive.
We could go with sensitive.
But maybe the best word to describe the man on the other microphone today is cranky.
At least situationally cranky.
He's pleasant enough most of the time, but in certain circumstances, he becomes a bit of a crankopotamus, especially when something isn't working the way it's supposed to.
Like when you go to pay your taxes or get a mortgage and you're suddenly tossed into a quagmire of fine print and red tape.
Or think about navigating the healthcare system or managing your retirement savings.
There's so much low hanging fruit because so many things are done so stupidly.
I should probably tell you the name of this situationally cranky man.
It's Richard Thaler.