42 min
#80 — Cass Sunstein (Harvard University) Inside The Newsroom
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- News
Hello! Welcome to another edition of Inside The Newsroom, as we welcome in Cass Sunstein, a professor at Harvard Law School and one of the foremost behavioural economists to have ever lived. Cass has a new book out in September called Too Much Information, which explores the theory that when information is positive, we eat it up, but when it’s negative we don’t want to even hear it. In the podcast, we dissected his 2008 book Nudge, which still has great influence more than a decade later. Before we do, I wanted to honor the passing of another legend to have walked this planet. Congressman John Lewis passed away over the weekend at the age of 80. John was an absolute icon when it came to civil rights, and carried the torch lit by Martin Luther King and Rosa Parks well into the 21st century. Rest in peace, Congressman.
Sharing Is Caring
Podcasts are fun. I love doing them. But they take a bloody long time to put together. I estimate a single hour podcast and newsletter takes around 12 hours to put together. So how about a cheeky share to show your appreciation? Please and thank you. 🙏
Job Corner
The job board has been updated and this week’s deadlines include jobs at CTV, the Financial Times, Newsquest, Poynter, the Pulitzer Center and the City NY. Spread the word. 🤜🤛
Who is Cass Sunstein?
Cass is considered one of the smartest behavioural economists and legal scholars on the planet. He’s the founder and director of the Program on Behavioural Economics and Public Policy at his alma mater, Harvard Law School, the author of dozens of books — one of which (Nudge) is the subject of the podcast, and was the administrator of the White House Office of Information and Regulatory Affairs from 2009 to 2012 in the Obama administration, of whom he became friends with during their time together at the University of Chicago. I’ve followed Cass’ work for a long time, so it was an absolute treat to hear him speak at the London School of Economics back in January on his then latest book How Change Happens (more on that later).
Nudge
Together with Richard Thaler, Cass co-authored perhaps his most influential book, Nudge: Improving Decisions About Health, Wealth, and Happiness. Published in 2008, the book describes the theory that almost all decisions we make in life, whether it’s where and when to buy a house or even as small as picking what to have for lunch from a restaurant menu, are influenced by the decisions and frames, or “nudges”, made by other humans, aka “choice architects”. For example, would you go bungee jumping if the instructor told you there was a 90 percent chance nothing bad would happen? Probably. But what about if the instructor told you there was a 10 percent chance you’ll die if you jump? Probably not, right? The book was well-received among free market policy makers as a way to increase economic activity. But you can apply the theory in almost every aspect of life, such as where in a new school an architect chooses to place the bathroom will determine how often students go to the toilet. Cass and Thaler have been heavily influenced by another pair of behavioural scientists, Amos Tversky and Daniel Kahneman, whose friendship helped shape the world we live in today…
The Undoing Project
The friendship between Tversky and Kahneman is among the most important in recent history, and was excellently chronicled by author Michael Lewis in The Undoing Project: A Friendship that Changed the World. Lewis documents how the two Israeli psychologists identified in the late 1960s how humans tend to make decisions based on emotion over rationality — see Moneyball. Before Tversky and Kahneman, not much was known about why we make the decisions we do, and their work has since influenced most, if not all, behavioural economic theory we have today, including that of Cass and Thaler. Check out Lewis speak about the book and friendship to Malcolm Gladwell below…
Related Podcasts 🎙️
#61
Hello! Welcome to another edition of Inside The Newsroom, as we welcome in Cass Sunstein, a professor at Harvard Law School and one of the foremost behavioural economists to have ever lived. Cass has a new book out in September called Too Much Information, which explores the theory that when information is positive, we eat it up, but when it’s negative we don’t want to even hear it. In the podcast, we dissected his 2008 book Nudge, which still has great influence more than a decade later. Before we do, I wanted to honor the passing of another legend to have walked this planet. Congressman John Lewis passed away over the weekend at the age of 80. John was an absolute icon when it came to civil rights, and carried the torch lit by Martin Luther King and Rosa Parks well into the 21st century. Rest in peace, Congressman.
Sharing Is Caring
Podcasts are fun. I love doing them. But they take a bloody long time to put together. I estimate a single hour podcast and newsletter takes around 12 hours to put together. So how about a cheeky share to show your appreciation? Please and thank you. 🙏
Job Corner
The job board has been updated and this week’s deadlines include jobs at CTV, the Financial Times, Newsquest, Poynter, the Pulitzer Center and the City NY. Spread the word. 🤜🤛
Who is Cass Sunstein?
Cass is considered one of the smartest behavioural economists and legal scholars on the planet. He’s the founder and director of the Program on Behavioural Economics and Public Policy at his alma mater, Harvard Law School, the author of dozens of books — one of which (Nudge) is the subject of the podcast, and was the administrator of the White House Office of Information and Regulatory Affairs from 2009 to 2012 in the Obama administration, of whom he became friends with during their time together at the University of Chicago. I’ve followed Cass’ work for a long time, so it was an absolute treat to hear him speak at the London School of Economics back in January on his then latest book How Change Happens (more on that later).
Nudge
Together with Richard Thaler, Cass co-authored perhaps his most influential book, Nudge: Improving Decisions About Health, Wealth, and Happiness. Published in 2008, the book describes the theory that almost all decisions we make in life, whether it’s where and when to buy a house or even as small as picking what to have for lunch from a restaurant menu, are influenced by the decisions and frames, or “nudges”, made by other humans, aka “choice architects”. For example, would you go bungee jumping if the instructor told you there was a 90 percent chance nothing bad would happen? Probably. But what about if the instructor told you there was a 10 percent chance you’ll die if you jump? Probably not, right? The book was well-received among free market policy makers as a way to increase economic activity. But you can apply the theory in almost every aspect of life, such as where in a new school an architect chooses to place the bathroom will determine how often students go to the toilet. Cass and Thaler have been heavily influenced by another pair of behavioural scientists, Amos Tversky and Daniel Kahneman, whose friendship helped shape the world we live in today…
The Undoing Project
The friendship between Tversky and Kahneman is among the most important in recent history, and was excellently chronicled by author Michael Lewis in The Undoing Project: A Friendship that Changed the World. Lewis documents how the two Israeli psychologists identified in the late 1960s how humans tend to make decisions based on emotion over rationality — see Moneyball. Before Tversky and Kahneman, not much was known about why we make the decisions we do, and their work has since influenced most, if not all, behavioural economic theory we have today, including that of Cass and Thaler. Check out Lewis speak about the book and friendship to Malcolm Gladwell below…
Related Podcasts 🎙️
#61
42 min