Join Mike Munger, a Professor of Economics at Duke University with a knack for real-world applications, as he chats with Russ Roberts about the complexities of life's big decisions. They explore how traditional economic models often misguide us in relationships and personal growth. Munger shares humorous anecdotes from his long marriage, emphasizing communication and self-awareness. The duo delves into the philosophical tension between happiness and meaning, encouraging listeners to embrace possibilities over mere problem-solving.
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insights INSIGHT
Wild Problems Defined
Traditional economic models using cost-benefit analysis can be misleading for life's biggest decisions.
These include decisions about marriage, children, career, and education, where data is less relevant.
insights INSIGHT
Becoming vs. Deciding
Focus on becoming the kind of person who makes good choices, rather than just making individual good choices.
Self-awareness and growth are key, but this approach might create unhappiness for some.
question_answer ANECDOTE
Inspiration for the Book
Russ Roberts's book was inspired by EconTalk interviews with Agnes Callard and L.A. Paul.
Their books, "Aspiration" and "Transformative Experiences", explore how preferences change after significant decisions.
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In 'Transformative Experience', L.A. Paul argues that certain life choices, such as deciding to become a parent, converting to a religion, or medically altering one's physical and mental capacities, are transformative experiences that cannot be assessed in advance. These experiences change the person in both epistemic and personal ways, making it impossible to make fully informed decisions based on current preferences and values. Paul uses classic philosophical examples and recent work in decision theory, cognitive science, and the philosophy of mind to develop a rigorous account of how we should understand and approach such transformative decisions.
Wild Problems
A Guide to the Decisions That Define Us
Russ Roberts
In 'Wild Problems,' Russ Roberts addresses the big, uncertain decisions in life—such as who to marry, whether to have children, where to move, and how to forge a life well-lived—that cannot be solved using data, science, or traditional rational approaches. He suggests focusing less on the path that promises the most happiness and more on figuring out who you actually want to be. Roberts draws on the experiences of great artists, writers, and scientists to lay out strategies for reducing fear and the loss of control when facing these 'wild problems.' He argues that life should be experienced as a mystery rather than a problem to be solved, and he critiques the idea of relying solely on cost-benefit analysis and utilitarianism for making life's major decisions.
Notes from Underground
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Fyodor Dostoevsky
Fyodor Dostoevsky's "Notes from Underground" is a novella that delves into the mind of an unnamed narrator, a bitter and alienated individual who rails against reason and societal norms. The work is considered a precursor to existentialist literature, exploring themes of isolation, nihilism, and the human condition. Dostoevsky's masterful use of first-person narration allows readers to experience the narrator's turbulent thoughts and emotions. The novella's exploration of free will and the complexities of human psychology continues to resonate with readers today. Its influence on literature and philosophy is undeniable, shaping the works of later writers and thinkers.
Waze and Google Maps tell us the best way to get to where we're going. But no app or algorithm can tell us whether we should head there in the first place. To economist Russ Roberts, the reason is simple: Humans are dynamic and aspirational beings. When it comes to making life's big decisions, from what to study to whom to marry or whether to have a child, it's not always us doing the deciding, he argues, but rather the people we want to be. Join the host of EconTalk, the president of Shalem College, and the author of the new book Wild Problems: A Guide to the Decisions that Define Us, as he speaks with friend and EconTalk favorite Michael Munger about why the traditional economic models for decision making can lead us astray--and why life should be less about solving problems than embracing possibilities.
EconTalk 
