2min chapter

Cautionary Tales with Tim Harford cover image

Masterly Inactivity Versus Micromanaging

Cautionary Tales with Tim Harford

CHAPTER

Behavioral Economics: An Example of Action by Us

In some situations we seem to feel compelled to take action, even if there's no real evidence that action will help. Perhaps the purest example of action by us is seen in socka goal keepers facing penalty kick. So why don't they? Presumably because socopans are like impatient patients or anxious voters. They expect action. Seemingly doing nothing can take a lot of courage. Sir stafford northcote was the british government minister in charge of india at the time john lawrence was its governor general. He told the house of commons the policy of sir John Lawrence had been 'masterly inactivity'

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