dispatches from the new world of work

Update from a Cool Friend

Everywhere he goes, Cool Friend Dan Ariely, the behavioral economist, meets people desperate to understand what is going on with the economy and why we were blindsided. In response to this demand he has updated his book Predictably Irrational. On the shelves May 19—today!—you will find Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions.

In over 25% of fresh material, Ariely addresses questions we all have, such as:

• Why did people take mortgages they couldn’t afford and why did lenders grant them?
• What caused bankers to lose sight of the economy?
• Did the government underestimate the importance of trust as an economic asset?
• Why didn’t we plan better for the possibility of bad times?
• If a rational approach doesn't protect us, what are we supposed to do in the future?

If you missed his book the first time around, this may be the time to take a look.

Cathy Mosca posted this on 05/19/09.

Comments

Tom & Cathy,

Will try to snag this one and read it. I like a good treatise on things like why we CAN'T put a dollar value on intangibles even though they are usually THE major determining factor in everything from personal spending to the global economy.

It's all W.A.G. method, if you ask me. Sometimes it feels as though it's a matter of "Whoever makes the closest guess without going over wins the seat as the next Chairmen of the Fed, Minister of Finance, etc., etc., etc., ad nauseum."

Posted by Dan Gunter at May 21, 2009 10:06 AM