Cautionary Tales with Tim Harford cover image

Buried by the Wall Street Crash

Cautionary Tales with Tim Harford

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The Psychology of Beliefs and Financial Downfall

This chapter explores cognitive dissonance through the contrasting responses of Irving Fisher and John Maynard Keynes to financial hardship. It highlights the human tendency to cling to beliefs despite evidence to the contrary and underscores the impact of such rationalizations on personal and professional outcomes.

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