Cass Sunstein on informational cascades

This article is from October, but germane to my discussion of fiscal salesmanship.

Cass Sunstein: Wall Street's Lemmings: Why policymakers need to understand psychology as much as economics to solve the financial crisis.

A couple of comments below the article point out that psychology is not the only cause of the financial crisis, but Sunstein is not claiming that. Undoubtedly it makes a big contribution and turning it around (he uses the example of Roosevelt, maybe the best fiscal salesman ever) is within the powers of politicians - Barack Obama of course being the one most capable of it, for many reasons.

Comments

Popular posts from this blog

What people want, cognitive goods, models of persuasion and why we avoid important information: the cognitive economics session at the AEA conference

Introducing System 3: How we use our imagination to make choices

Discussion 2 of 3: No spooky action at a distance - a theory of reward