BUSINESS & ECONOMICS

Do we need to change how economics is taught?

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Uploaded on 03/20/2008
Muhammad Yunus, who won a Nobel Peace Prize for his work in microfinance, lifted millions out of poverty by doing what few other would dare to do: taking a risk on the poor, giving them loans and watching them start small, self-sustaining businesses. Dan Ariely, an economist at MIT, studies irrational behavior and how it undermines our sacred economic assumptions about decision making. Now these two economists who think outside the traditional academic box explain why they think the old models don't suffice.
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