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FTA: |------- "Kahneman was considered a pioneer in the field of behavioral economics, best known for upending the assumption of classical economics that human beings are essentially rational decision-makers.

In 2002, he won the Nobel Prize in Economics for his research integrating psychology and economics, which challenged the notion that people act rationally. Instead, he argued, people's mental biases often lead them to make decisions that run counter to their own interests."
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Kahneman was ahead of his time. His research is now widely used in politics, military, economics and financial markets, e.g., Nassim Taleb who wrote Black Swan and Fooled by Randomness were directly influenced by Kahneman's works.

Some ideas in one of his books, Thinking Fast and Slow, were adapted into 4-part PBS series Hacking Your Mind that ran during COVID "hiatus" in 2020. Not nearly as good as the book, but was entertaining.

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#4 | Posted by snoofy at 2025-05-21 12:11 PM
... tenet which Capitalists use elevate Capitalism above other economic systems.

"Other economic systems"?

Kind of like "democracy" being the "worst form of government except all the others that have been tried"?

Because in Capitalism there is "freedom."

If you don't like "freedom" - try using "choice / choices." All better?

... very few are willing to accept the truth that humans are not rational decision makers.

That's overly broad and really depends on circumstances and nature of decision making. For the most part, in the course of ordinary lives, most people do make rational decisions. Kahneman (and Taleb) provided very specific circumstances (economic, financial) where most people (95% ?) are uneducated, illiterate, or simply don't have enough time or desire to think of choosing differently, e.g., where they don't see a materially different outcome.

That's what their research into behavioral economics and finance (and they had disagreements on some issues) was all about.
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