“We are not rational enough to be exposed to the press.”
— Nassim Nicholas Taleb, co-director of the Decision Research Laboratory at the London Business School, quoted in ‘Keep your head’, New Scientist, 30 August 2008, p36.
Apparently, “the media’s focus on shocking or traumatic news stimulates the intuitive, non-thinking part of our decision-making and is at the root of many misjudgments”.
Yes, the mere suggestion of panic is enough to radically distort the human mind’s capacity for rational decision-making, leading us to make poor choices when we most need to be sensible and level-headed. (Journal of Risk and Uncertainty, vol 7, p35)*
On that note, I’m just heading off to watch the global economy implode.
* I almost don’t know whether or not to believe that such a niche publication actually exists… But look, it does!
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