People are bad at understanding compound growth, which is wh... - Richard Thaler

"People are bad at understanding compound growth, which is why they underestimate both debt and savings."

Richard Thaler Knowledge

Economist Psychologist American Born 1945 (age 81)

More from Richard Thaler

"Mental accounting is how people organize, evaluate, and process financial activities."

"People are not always rational. We make systematic mistakes."

"The most important thing to realize is that we are all irrational some of the time."

"Behavioral economics is the study of human choice."

"We're not just after treasure. We're preserving history."

"The mind is humanity's greatest tool."

"A tidy room reflects a tidy mind."

"You can learn a lot about a person by how they keep their space."