Debunking Economics - the podcast Does human behaviour render all economic models useless?
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Oct 4, 2023 Economists question the predictability of human behavior in economic models. They explore the concept of rational and irrational behaviors and the influence of greed and optimism. The podcast also discusses the limitations of a cooperative framework and the importance of balancing selfishness with altruism through government intervention. Additionally, it explores the impact of financial instruments on the economy, the significance of consumer confidence, and the need for a weather system-like model to evaluate public policies.
Chapters
Transcript
Episode notes
1 2 3 4 5 6
Introduction
00:00 • 2min
The Relevance of Economic Models and Human Behavior
01:44 • 21min
Complexity of economic models and the role of mathematics
22:42 • 3min
Altruism and Mutual Benefit in Economic Models
25:20 • 9min
The Impact of Financial Instruments and Consumer Confidence on the Economy
34:11 • 10min
Evaluating public policies and the need for a weather system-like model
44:01 • 3min