Money management has been a profession involving a lot of fakery - people saying they can beat the market, and they really can't.

Marketers know that if people you respect - perhaps laughably including entertainers and athletes - say they like a product, you're more likely to buy.

Money management has been a profession involving a lot of fakery - people saying they can beat the market, and they really can't.

My clinical psychologist wife of 40 years has always had a close intellectual influence on me. When I was beginning to talk openly in the economics profession about irrationality in decision-making, I received a lot of criticism. Ginny would support my views and remind me that a whole other profession - psychology - studies people's irrational sides.

I have argued that we need livelihood insurance, which would protect people against the risk of seeing their skills and expertise no longer needed. Such insurance could be offered by the private sector.

Liberalism downplays certain of our moral senses: loyalty, authority, and sanctity.

The ability to focus attention on important things is a defining characteristic of intelligence.