Erasmus reads Kahneman, or why perfect rationality is less than it’s cracked up to be

Utopia or Dystopia

sergei-kirillov-a-jester-with-the-crown-of-monomakh-1999

The last decade or so has seen a renaissance is the idea that human beings are something far short of rational creatures. Here are just a few prominent examples: there was Nassim Taleb with his The Black Swan, published before the onset of the financial crisis, which presented Wall Street traders caught in the grip of their optimistic narrative fallacies, that led them to “dance” their way right over a cliff. There was the work of Philip Tetlock which proved that the advice of most so-called experts was about as accurate as chimps throwing darts. There were explorations into how hard-wired our ideological biases are with work such as that of Jonathan Haidt in his The Righteous Mind.

There was a sustained retreat from the utilitarian calculator of homo economicus, seen in the rise of behavioral economics, popularized in the book, Nudgewhich took human irrational quirks at face…

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