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Meaning
Thaler is saying that behavioral economics does not explain Trump’s rise any better than other approaches do. He is expressing skepticism that his field has special insight into that political development. The quote suggests limits to how far economic theories can explain public support for a leader.
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Original Language & Translation
Originally said in English.
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About Richard Thaler
American economist, behavioral scientist
Richard H. Thaler is an American economist and behavioral scientist. He is the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business, and he served as president of the American Economic Association in 2015. Thaler is known for his work in behavioral economics, a field that examines how real people make economic decisions, often in ways that depart from standard theory. His writing and scholarship helped bring attention to the role of psychology in economic life and to the choices people make in markets, institutions, and everyday decisions.
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