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Showing posts from November, 2023

The decision to be thankful

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  Turkey is upon us soon and our kitchens will be engulfed in aromas of turkey, sweet potatoes and pumpkin pies.  I have to admit that Thanksgiving is my favorite holiday.  I can attribute my selection of Thanksgiving to 3 factors.  The first two are easily explained and understood.  The third reason is difficult to understand and even more difficult to understand.  This third reason will be the focus of this post.  As always lets get some background and context before the meat of this post. The first reason for selecting Thanksgiving as my favorite holiday is it's all encompassing nature.  This  Wikipedia Article  outlines some of the roots of Thanksgiving.  Its foundations are quite varied.  One foundation is giving thanks for a good harvest. However, thanks were were also expressed for safe transatlantic crossings.  The article also outlines some of the relationships between Christian celebrations and Thanksgiving....

Recession or not?

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  I have not had much in the way of inspiration this week.  There seems to be the same issues within the news.  Also I had a minor eye injury that has kept my reading time to a minimum, so I have not invested much time in my latest book.  Writing this blog has had many benefits.  I have spent the last couple weeks in the realm of behavioral economics.  I have found the field fascinating and eye opening.  So this week I have decided to return to the roots of this blog and look at an issue and see if I can make sense of the information available and see where this leads me.  As my blog introduction states: Like many I am trying to sift through the day to day information over load and make wise decisions that with keep me and my family safe. I am sure it is possible to "break" the internet by doing a google search for Taylor Swift and Travis Kelce but that would not lead me anywhere productive.  So I thought of the next best thing.  A googl...

Nudge, Sludge and Choice Architecture

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  It took a little more time than I thought it would but I have finished reading " Nudge the Final Edition ".  the book was originally published in Spring of 2008.  This final edition was updated to include information on "sludge, Covid 19 and Choice engines.  The book was written by  Richard Thaler  and  Cass Sunstein .  Before purchasing the book I read a couple of the on-line reviews and that did spawn a  previous post .  I have also blogged about another book by Richard Thaler;  Econs and Nudges .  The basic premise of these works is that humans do not make optimum decisions.  This is contrary to standard economic theory where people will always maximize their returns.   Thaler has coined the term "Econ" to represent this mythical character embodied by economic theory.  Econs never make an incorrect decision.  Econs do not exist.  In Thaler's world of Behavioral Economics humans often choose in...