All good business stories begin with an economist admitting he has no idea what’s going on.
“I just don’t get it,” Richard Thaler told me a few months ago, when I asked how his book tour was going. “More people are listening to my book than reading it.”
Thaler is an entertaining writer as academics go, deftly distilling complex ideas. And the subject of his book, “Misbehaving,” is compelling: the psychological quirks and failings that distinguish actual humans from the rational action figures many economists suppose walk the Earth. I had to agree with Thaler, because I didn’t get it either.