Daniel Kahneman: Thinking Fast and Slow, Talk With Richard Layard

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Source: Vimeo Video Screenshot

Two systems drive the way we think and make choices: System One is fast, intuitive, and emotional; System Two is slower, more deliberative, and more logical. Over many years, Daniel Kahneman has conducted groundbreaking research into this — in his own words — “machinery of the mind”. Fast thinking has extraordinary capabilities, but also faults and biases. Intuitive impressions have a pervasive influence on our thoughts and our choices. Only by understanding how the two systems work together, Daniel Kahneman shows, can we learn the truth about the role of optimism in opening up a new business, and the importance of luck in a successful corporate strategy, or the difficulties of predicting what will make us happy in the future, and the psychological pitfalls of playing the stock market. Kahneman shows where we can trust our intuitions and how we can tap into the benefits of slow thinking. He offers practical and enlightening insights into how choice are made in both our business and personal lives — and how we can guard against the mental glitches that often get us into trouble.

This public conversation between Professor Kahneman and Professor Lord Layard celebrates the publication of Kahneman’s  book Thinking, Fast and Slow.

H/T Value Investing World

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