This is Your Brain on Credit

March 23, 2009 11:01 am

As so often, the Sage of Omaha put it best: “Nothing sedates rationality like large doses of effortless money.” These days, it is hard to disagree. Warren Buffett’s warning now looks less like a mere aphorism and more like a sharp summary of the latest research in behavioral economics. Our stone-age brains just don’t seem to be able to cope with digital-age credit products…

Continued at Forbes.com.

Posted in Everyday economics, Undercover Economist |
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Tim, also known as the Undercover Economist, writes about the economics of everyday life.

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