A Quote by Richard Thaler

I think the people who've been the most overconfident in our business in the last decade have been the people that called themselves risk managers. — © Richard Thaler
I think the people who've been the most overconfident in our business in the last decade have been the people that called themselves risk managers.
What has been the most rewarding moment in your decades of entrepreneurship? Our last annual managers meeting. I gave my motivational talk and then I asked, How many people here started as a forklift operator, a warehouse person, a roof loader, or a truck driver? We had 600 people and almost half of them stood up.
There is a long history of research showing that people are overconfident about their abilities. But it turns out that people in general are not overconfident about their abilities; people with a fixed mindset are overconfident.
They called themselves the Munrungs. It meant The People, or The True Human Beings. It's what most people call themselves, to begin with. And then one day the tribe meets some other People or, if it's not been a good day, The Enemy. If only they'd think up a name like Some More True Human Beings, it'd save a lot of trouble later on
I'm not proud of this at all, but I'm someone who has relied on business managers and accountants and career managers to run the whole bureaucratic side of my life for the last 16 years, so anything, from filing tax returns to paying credit card statements, is something that I feel rather fortunate to have been out of the loop on.
There's been an amazing backlash for the last decade in America: political correctness. In many ways, I think that, while we've been remarkably violent in our media, there's been a real schizophrenia. In private, on the Internet, and on public-affairs shows or talk radio, we're way more explicit than we've ever been. But traditional Hollywood has been much more frightened than it ever was in the '70s about presenting things that could be perceived as politically incorrect.
I think the people who did well, or are happy, in a youth industry, they define themselves out of the business after a decade or so.
I think we as people struggle for what is meaningful in our lives, and I think that modern, contemporary life is as easy as it's ever been, for many, many people, and the amount of physical exertion, for most people, is less than it's ever been. I think that there is something about the ritual of making things more difficult that people find meaning in.
If most of the reviewers are white cis men, if most of the distributors are white cis men, most of the executives in history have been white cis men. Most of the people who have been giving awards to people are people who've already been in the business - retired white cis men. They've been creating a body of narrative forever.
Poverty brings people to drastic measures and that's what the hardcore gangsta rap scene is about. It's called freedom of expression. People should be allowed to express what they've been through, what they've been able to familiarize themselves with.
My great fear is that I'm the ultimate shallow person. I think about this kind of thing a lot, and about this phenomenon in our culture where people identify themselves with their interests. I've been trying not to think about it too much. It used to really upset me when people called me "witch house."
Documentary film is the one place that our people can speak for themselves. I feel that the documentaries that I've been working on have been very valuable for the people, for our people to look at ourselves, at the situations, really facing it, and through that being able to make changes that really count for the future of our children to come.
And I think what people in New Jersey have gotten to know about me over the last decade that I've been in public life is what you see is what you get. And I'm no different when I'm sitting with you than I am when I'm at home or anyplace else.
Managing risk is a key variable, frankly, all aspects of life, business is just one of them, and one of the things that most people do in terms of managing risk, that's actually bad thinking, is they think they can manage risk to zero. Everything has some risk to it. You know, you drive your car down the street, a drunk driver may hit you. So what you're doing is you're actually trying to get to an acceptable level of risk.
The first point to remember is that attempts to clone mice have actually been very unsuccessful for at least a decade. Sheep have been successful. So one asks, 'Where do humans lie?' Most people think they are somewhere between the two, but at least there's a reasonable chance they might be clone-able.
The global warming deniers persist in this air of unreality. After all, the entire north polar icecap, which has been there for most of the last 3 million years, is disappearing before our eyes. Forty percent is already gone. The rest is expected to go completely within the next decade. What do they think is causing this?
White people have basically been encouraged for most of recent history in America to think of themselves as outside of race. White people do have race. They need to understand how their race has been constructed as artificially as everybody else's.
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