Cautionary Tales with Tim Harford cover image

Cautionary Tales with Tim Harford

How Trump is Getting the Game Theory Wrong from Risky Business

Mar 10, 2025
Dive into an analysis of Trump's tariffs and discover how game theory misapplications could lead to economic chaos. Explore the difference between zero-sum and cooperative games, and ponder the consequences of revenge in strategic thinking. Unpack the infamous Fyre Festival saga, where grand promises turned to disaster, revealing insights into con artistry and societal trust. Lastly, contemplate the absurdity of Fyre Festival 2 and the psychological factors driving its revival, highlighting our fascination with risk and deception.
40:19

Podcast summary created with Snipd AI

Quick takeaways

  • Trump’s tariffs illustrate a fundamental misunderstanding of game theory, risking economic stability amid rising investor uncertainty.
  • The return of the Fyre Festival highlights society's complex relationship with deception and the paradox of granting second chances to con artists.

Deep dives

The Art of Writing and Collaboration

Writing is presented as a deeply personal and isolating endeavor, where the writer engages in extensive hours of solitary work to produce a limited amount of content. This process highlights the dedication required in the art of writing, as exemplified by the speaker's routine of dedicating significant blocks of time to generate a few pages. Alongside creative pursuits, the significance of collaboration with trustworthy and talented individuals is emphasized, showcasing how positive professional relationships can enrich the creative process. This interplay between solitude and collaboration reflects the dual nature of the artistic profession, balancing individual artistry with shared creative experiences.

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