Explore the groundbreaking theory of 'prospect theory' and its impact on decision-making in economics. Learn about psychologist Daniel Kahneman's Nobel Prize in Economics and how it challenges traditional notions of rational choice. Also, discover why South Dakota ranks high in economic outlook due to its favorable tax policies. Gain valuable insights into human behavior, economic growth, and the role of tax policies in fostering prosperity.Sources:https://www.tribuneindia.com/news/comment/when-a-psychologist-won-economics-nobel-610642https://www.newscenter1.tv/news/state/south-dakota-economic-outlook-2024/article_d5fc52b2-40a4-5fd8-8791-cb5895eebf06.htmlhttps://www.ft.com/content/0e1c969f-a199-4888-a840-943b0c846c42https://www.ft.com/content/d9b713a5-d5fb-4cc3-a3f0-eab6d03b49a8Outline:(00:00:00) Introduction(00:00:43) When a psychologist won economics Nobel(00:03:40) Report gives South Dakota high marks for economic outlook(00:06:57) US High School Economics class: US faces Liz Truss-style market shock as debt soars, warns watchdog(00:09:56) US High School Economics class: ECB to rely more on bank lending as it shrinks balance sheet

Broadcast on:

14 Apr 2024