Conversations with Tyler Tim Harford on Persuasion and Popular Economics
Feb 12, 2020
Tim Harford, a Financial Times columnist and popular economics author, shares his insights on the fascinating world of mistakes and storytelling. He discusses the role of popular economics in our polarized political climate and dives into the complexities of Brexit. Harford highlights the art of public speaking for both extroverts and introverts, the importance of engaging feedback, and the limits of fact-checking in today’s discourse. His anecdotes range from playing poker with Steve Levitt to reflections on the impact of social media on public dialogue.
59:15
Public Speaking
- Rehearse your public speaking presentations to be well-prepared.
- Be willing to improvise and adapt to the circumstances and audience reactions.
Persuasion and Curiosity
- Engaging people's curiosity is key to changing their minds.
- Presenting familiar facts that have already been debated will not persuade anyone.
Actionable Feedback
- Tim Harford received actionable feedback at a TED talk about the Spitfire.
- He was advised to show a photograph of the Spitfire because not everyone shares the same cultural references.
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Intro
00:00 • 2min
The Art of Balancing Speech: Rehearsal and Improvisation
01:50 • 9min
Brexit and the Battle of Perspectives
10:36 • 17min
Economics of Love and Social Dynamics
27:53 • 11min
Perspectives on Leadership, Legacy, and Truth in Modern Discourse
39:02 • 5min
The Unsung Importance of Paper and the Value of GPS
44:09 • 2min
Essentials and Storytelling: Navigating Life's Choices
46:11 • 13min
Hidden Order
The Economics of Everyday Life
David Friedman
In 'Hidden Order: The Economics of Everyday Life', David Friedman explains economic principles using relatable examples from daily life, such as grocery shopping and marriage.
The book demonstrates how economic theory applies to various aspects of life, including personal decisions and societal structures.
It emphasizes the efficiency of free markets and rational decision-making in achieving optimal outcomes.
The Armchair Economist
Economics and Everyday Life
Steven Landsburg
In 'The Armchair Economist,' Steven E. Landsburg masterfully breaks down complex economic principles into accessible narratives that resonate with everyday experiences.
He explores how economic forces shape our daily decisions, from household budgeting to broader societal issues, using examples like seat belt legislation and environmental policies to illustrate the power of incentives and unintended consequences.
Strategy of Conflict
Thomas Schelling
Written against the backdrop of the nuclear arms race in the late 1950s, this book sets forth Thomas Schelling's vision of game theory as a unifying framework for the social sciences.
It explores areas where progress has been least satisfactory, including negotiations, war and threats of war, criminal deterrence, extortion, and tacit bargaining.
Schelling's analysis highlights enlightening similarities between various conflict scenarios, such as maneuvering in limited war and in a traffic jam, and deterring adversaries versus one’s own children.
His work emphasizes the importance of strategic commitments, the credibility of uncertain retaliation, and the exploitation of potential force rather than its application.
The book has significantly influenced conflict resolution and the development of game theory across the social sciences.
Predictably Irrational
The Hidden Forces That Shape Our Decisions
Dan Ariely
In this revised and expanded edition of the groundbreaking New York Times bestseller, Dan Ariely uses a series of illuminating experiments to show how expectations, emotions, social norms, and other invisible forces skew our reasoning abilities.
Ariely explains how we consistently overpay, underestimate, and procrastinate, and how these behaviors are neither random nor senseless but systematic and predictable.
The book covers various aspects of decision-making, from the power of placebos to the effects of social and financial norms, and offers insights into how to make better decisions by understanding these irrational patterns.
Freakonomics
A Rogue Economist Explores the Hidden Side of Everything
Andrea Montero Cusset
Steven D. Levitt
Stephen J. Dubner
Freakonomics is a collaboration between economist Steven D. Levitt and journalist Stephen J. Dubner that delves into the riddles of everyday life, from cheating and crime to parenting and sports.
The book argues that economics is fundamentally the study of incentives and how people get what they want or need, especially when others want or need the same thing.
It covers various topics such as the inner workings of a crack gang, the truth about real estate agents, and the secrets of the Ku Klux Klan, using forceful storytelling and wry insight to challenge conventional wisdom.
Thinking, Fast and Slow
Daniel Kahneman
In this book, Daniel Kahneman takes readers on a tour of the mind, explaining how the two systems of thought shape our judgments and decisions.
System 1 is fast, automatic, and emotional, while System 2 is slower, effortful, and logical.
Kahneman discusses the impact of cognitive biases, the difficulties of predicting future happiness, and the effects of overconfidence on corporate strategies.
He offers practical insights into how to guard against mental glitches and how to benefit from slow thinking in both personal and business life.
The book also explores the distinction between the 'experiencing self' and the 'remembering self' and their roles in our perception of happiness.
Moneyball
The Art of Winning an Unfair Game
Michael Lewis
The book tells the story of the Oakland Athletics' 2002 season, where General Manager Billy Beane and his assistant Paul DePodesta used advanced statistical analysis, known as sabermetrics, to assemble a competitive team despite a limited budget.
The approach, pioneered by Bill James, focused on metrics such as on-base percentage and slugging percentage rather than traditional measures like batting average and runs batted in.
This data-driven strategy allowed the Athletics to compete with teams having much larger payrolls, like the New York Yankees, and achieve significant success, including a 20-game winning streak and a playoff appearance.
Adapt
Why Success Always Starts with Failure
Tim Harford
In 'Adapt', Tim Harford argues that success in solving complex problems, such as climate change, poverty, and financial crises, comes from adaptive trial and error rather than top-down planning.
Drawing from psychology, evolutionary biology, anthropology, physics, and economics, Harford shows how improvisation, working from the bottom up, and taking small steps can lead to innovation and success.
The book highlights the importance of feedback, learning from mistakes, and the need for organizations and individuals to embrace a culture of experimentation and adaptation.
The Undercover Economist
Tim Harford
The Undercover Economist provides a fresh explanation of the modern economy, using examples from various aspects of life, such as the pricing of coffee, the challenges of buying a used car, and the impact of globalization.
The book illuminates how economists think and how their insights can help readers make better decisions in their daily lives.
It covers topics including demand-supply interactions, market failures, externalities, and international trade, all presented in non-technical terms.
To Tim Harford, mistakes are fascinating. “We often only understand how something works when it breaks,” he says, explaining why there’s such an emphasis on errors throughout his work. They also tend to make great stories, which can stoke the curiosity necessary to change minds. A former persuasive speaking champion, he was made an Officer of the Order of the British Empire “for services to improving economic understanding,” which he’s achieved through appearances on the BBC, columns for the Financial Times, several TED Talks and books, and now his latest podcast series Cautionary Tales.
Tim joined Tyler to discuss the role of popular economics in a politicized world, the puzzling polarization behind Brexit, why good feedback is necessary (and rare), the limits of fact-checking, the “tremendously British” encouragement he received from Prince Charles, playing poker with Steve Levitt, messiness in music, the underrated aspect of formal debate, whether introverts are better at public speaking, the three things he can’t live without, and more.
Note: This conversation was recorded in November 2019 and thus took place before the UK’s general election in December, which secured Boris Johnson a Conservative majority and ensured the passage of his Brexit deal in January 2020.
Read a full transcript enhanced with helpful links.
Recorded November 11th, 2019 Other ways to connect
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