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Think Like a Freak
by Steven D. Levitt
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More of Thomas's books…
“Our goal should be to make decision makers internalize the full consequences of their decisions, rather than prevent them from making decisions altogether [...] But we tend to reform under the delusion that the regulated institutions and the markets they operate in are static and passive, and that the regulatory environment will not vary with the cycle. Ironically, faith in draconian regulation is strongest at the bottom of the cycle, when there is little need for participants to be regulated. By contrast, the misconception that markets will govern themselves is most widespread at the top of the cycle, at the point of maximum danger to the system. We need to acknowledge these differences and enact cycle-proof regulation, for a regulation set against the cycle will not stand. To have a better chance of creating stability throughout the cycle--of being cycle-proof--new regulations should be comprehensive, nondiscretionary, contingent, and cost-effective.”
Raghuram Rajan

Daniel Kahneman
“Nothing in life is as important as you think it is, while you are thinking about it”
Daniel Kahneman, Thinking, Fast and Slow

“My wife, Rohini, visits a lot of government schools as part of her NGO reach-out. One of the questions she most likes to ask the kids is what they would like to be when they grow up. The answers are varied--'engineer,' 'teacher,' 'policeman' and, increasingly, 'computer' [sic]. But even in the rural schools, one aspiration that they never express is 'farmer”
Nandan Nilekani

Charles Clover
“Celebrity chefs are the leaders in the field of food, and we are the led. Why should the leaders of chemical businesses be held responsible for polluting the marine environment with a few grams of effluent, which is sublethal to marine species, while celebrity chefs are turning out endangered fish at several dozen tables a night without enduring a syllable of criticism?”
Charles Clover, The End of the Line: How Overfishing Is Changing the World and What We Eat

Kate Locke
“For a moment I hoped I was in heaven--or wherever it is my kind go when death calls...Instead I opened my eyes and discovered that I was in hospital. The flimsy little gown they'd put me in had tiny pink piggies on it. My first thought was that I had to have been in bad shape to be admitted. My second, I'm ashamed to admit, was whether or not they'd let me take the nightie home with me.”
Kate Locke, God Save the Queen

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