Do We Ever Learn?

July 8, 2009

A July / August 2009 Harvard Business Review Article (subscription required) by Dan Ariely regarding the idea that much of the problem with this economic crisis was that too much emphasis on silly things such as rational human thought.

Standard Economic theory assumes human beings are capable of making rational decisions

Hmmm,

Two decades ago in the text In Search Of Excellence Peters and Waterman stated;

We have argued that man is strikingly irrational……… management practice seldom takes these foibles and limitations into account

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