It's People, Not Economists, that Drive the Economy | BTalk Australia

Last Updated Dec 7, 2010 7:01 PM EST

Podcast

(14min 07) The economy would be much easier to manage if we all made rational decisions, all the time. Unfortunately we are influenced by bias, misinterpretation and reasoning that is just plain wrong!

On today's BTalk Australia Phil Dobbie talks to Miriam Lyons, Executive Director of the Centre for Policy Development about a recent paper by Ian McAuley. "You Can See a Lot By Just Looking" looks at the discipline of Behavioural Economics. If the finance sector had paid more attention to this approach could we have avoided the current economic crisis? Can it be used to influence future regulatory controls?

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