We all love behavioural economics, right? With their clever psychological experiments, counterintuitive insights and wonderful nudges, they throw fresh revelatory light onto our thinking and behaviour. Take for instance risk-aversion. The key insight in several of the books I’ve been perusing is that we tend to be risk-averse for gains, but the opposite for losses.
There may be some good arguments for celebrating mistakes, but the fact that they lead on occasion to good outcomes is not one of them.
The occasional good dictator is not an argument against democracy, and doesn’t mean we should start celebrating military coups because now and again we’ll be blessed with another good dictator.
The biggest story is our view of the world. We might favour one political party (with their Big Story) because we like the sum of its policies (the Small Stories). Others, might accept the policies without further ado merely because they like the party.