The Nature of Discrimination | The Aneesh Karve Series | Episode 3 (WiM212)
The "What is Money?" Show
00:00
The Invincible Fallacy and the Cost Structure
Hayek: Bad information keeps people in more of an emotional fight or flight mode. So they're more likely to latch on to these political, I don't know, racism is the problem rather than the intervention that pushed us from one A to one B to two. Hayek: We are unnecessarily naive about human nature if we think that information is free and we can gather all this type 1A information. Sometimes false negatives are very, very, very expensive even though that requires discrimination.
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Transcript
