Ted Video: A monkey economy as irrational as ours by Laurie Santos


the video questions the irrationality that we humans tend to show. the speaker draws an analogy between our economy and ‘a makeshift monkey economy’. Surprisingly, monkey reacts in the same irrational way that we do. so she concluded that our irrationality is inherent. The example showed that we think in relative terms rather than absolute. when we are considering profit we tend to play safe but when we are dealing with potential losses we tend to be riskier. we can thus conclude that such behavior leads to financial crisis that we recently faced. people tend to play riskier when faced with potential losses and thus in the process are susceptible to huge loses. such behavior kick starts domino effect in world economy which is hard to anticipate. Watch the video if you are interested psychology, economy, financial crisis, human nature. Speaker quotes ‘man is a species that refuses to accept who he really is’. This line beautifully summarizes what the speaker meant to convey.


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