We should teach the students, as well as executives, how to conduct experiments, how to examine data, and how to use these tools to make better decisions.

The people that lend you money basically give you an answer based on the risk that they are willing to take. But just because a bank is willing to take a particular risk doesn't mean that that is the right amount for me to spend.

The idea that you will make the right decision every time is very unlikely.

...[D]ivision of labor, in my mind, is one of the dangers of work-based technology. Modern IT infrastructure allows us to break projects into very small, discrete parts and assign each person to do only one of the many parts. In so doing, companies run the risk of taking away employees' sense of the big picture, purpose, and sense of completion.

It is true that from a behavioral economics perspective we are fallible, easily confused, not that smart, and often irrational. We are more like Homer Simpson than Superman. So from this perspective it is rather depressing. But at the same time there is also a silver lining. There are free lunches!

That’s a lesson we can all learn: the more we have, the more we want. And the only cure is to break the cycle of relativity.

Not all debt is bad. From time to time we should get into debt when there's a good reason for that.