Historically Thinking

Episode 300: Wild Problems

17 snips
Jan 9, 2023
Russ Roberts, President of Shalem College and a research fellow at Stanford, delves into the concept of 'wild problems'—life-altering decisions like marriage and parenting that resist straightforward solutions. He contrasts these with 'tame' and 'wicked' problems, emphasizing the importance of personal judgment. Discussions highlight the limits of quantifying human experience, ethical dilemmas in economics, and the role of liberal arts in education. Roberts also shares insights on leading higher education institutions while promoting critical thinking and cultural comprehension.
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INSIGHT

Limits of Science in Personal Decisions

  • Scientific methods fit well for clear, testable economic questions but falter on personal life decisions.
  • Using data to find a perfect spouse or government policy for citizen happiness oversimplifies complex human aims.
INSIGHT

Data Domination in Modern Economics

  • Economics has become dominated by data and econometrics among younger economists in recent decades.
  • Quantifying complex historical causes or social phenomena is often misguided or overly simplistic.
INSIGHT

No App for Life's Big Choices

  • Data and technology rightly improve some areas, like traffic routing, but no app exists for complex life choices.
  • Attempting to apply scientific certainty to wild problems often risks ruin rather than success.
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