Beyond Irrationality

The transcript discusses the limitations of current economic models that rely heavily on the assumption of human rationality. It argues for the need to move beyond these assumptions to better understand the social world. The text highlights the ongoing efforts in contemporary economics to incorporate insights from human psychology, acknowledging that even with a better understanding of individual behavior, it is not sufficient to fully explain societal dynamics. The discussion also references a major economics conference where these topics were a focal point.

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