G8, G7, G6

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Time Out Market, Lisbon, Portugal

“In late 1973 or early 1974, Danny (Kahneman) gave a talk, which he would deliver more than once, and which he called ‘Cognitive Limitations and Public Decision Making.’  It was troubling to consider, he began, ‘an organism equipped with an affective and hormonal system not much different from that of the jungle rat being given the ability to destroy every living thing by pushing a few buttons.’ Given the work on human judgment that he and Amos (Tversky) had just finished, he found it further troubling to think that ‘crucial decisions are made, today as thousands of years ago, in terms of the intuitive guesses and preferences of a few men in positions of authority.’  The failure of decision makers to grapple with the inner workings of their own minds, and their desire to indulge their gut feelings, made it ‘quite likely that the fate of entire societies may be sealed by a series of avoidable mistakes committed by their leaders.'”  (from “The Undoing Project: A Friendship that Changed the World” by Michael Lewis)

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