Tim Harford’s long-running column in the Financial Times, “The Undercover Economist,” reveals the economic ideas behind everyday experiences. His first book, The Undercover Economist, was published in 30 languages and sold…
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Torrey Canyon was one of the biggest and best ships in the world — but its captain and crew still needlessly steered it towards a deadly reef known as The Seven Stones. This course seemed like utter madness, but the thinking that resulted in such a risky maneuver is something we are all prone to do when we fixate on a goal and a plan to get us there.