A general “law of least effort” applies to cognitive as well as physical exertion. The law asserts that if there are several ways of achieving the same goal, people will eventually gravitate to the least demanding course of action. In the economy of action, effort is a cost, and the acquisition of skill is driven by the balance of benefits and costs. Laziness is built deep into our nature.

There are some conditions where you have to trust your intuition.

Economists think about what people ought to do. Psychologists watch what they actually do.

It's nonsense to say money doesn't buy happiness, but people exaggerate the extent to which more money can buy more happiness.

We don't see very far in the future, we are very focused on one idea at a time, one problem at a time, and all these are incompatible with rationality as economic theory assumes it.

I don't try to be clever at all. The idea that I could see what no one else can is an illusion.

Hindsight bias makes surprises vanish.