Oskar Morgenstern grew up in Vienna, John von Neumann in Budapest. Clearly the same Austro-Hungarian intellectual spirit which gave rise to Zur Theorie der Gesellschaftsspiele and their seminal joint work Theory of Games and Economic Behaviour is still alive in that part of the world, because the Austrians chose a bearded transvestite to represent them
A few years ago I would have quite liked to live in America. I’m not sure now. For one thing, most of the things perfected by Americans (convenience, entertainment, technology, a very small bottle of Tabasco to accompany your breakfast) very soon make their way over here. On the other hand, the things Europeans do
A 14-year-old at an American school recently caused a stir when he claimed that the US government could save over $400 million annually on the cost of printer ink if the default printer font were switched from Times New Roman to Garamond. Major effects can often be achieved by relatively trivial improvements. One of the
If you are reading this article online, perhaps you could go to the comments section and let us know what single slightly unusual item you have bought which has brought you the most reliable and lasting happiness. Perverse answers are welcome, of course, but I am not so interested in suggestions such as ‘a Thai
Google ‘the bread market’ and you get 135,000 hits, mostly from specialist food industry websites. Google ‘the property market’, however, and you get over 180 million. ‘The financial markets’ nets you 282 million. Seen like this, it’s unsurprising that capitalism has a reputational problem. The likelihood that the word ‘market’ is attached to any area of
This month Daniel Kahneman turned 80. Long revered among experts in the decision sciences, his work reached much wider public attention with the publication of the bestseller Thinking Fast and Slow.The central tenet of the book, what he calls a ‘useful fiction’, is that we obviously have more than one way of thinking. The ‘fast’
During the O.J. Simpson trial, the prosecution made much of the fact that Simpson had a record of violence towards his wife. In response, Simpson’s legal team argued that, of all women subjected to spousal abuse, only one in 2,500 was subsequently killed by the abusive husband. It was hence implied that, since the ratio
I am convinced that when I took my driving test in 1983 I was asked by the examiner, ‘What lane of a three-lane motorway should you use when driving at a speed of 70 mph?’ And I am equally sure that the ‘correct’ answer to this question at that time, as given by the early
This column nearly didn’t appear. Another 24 hours and I would have trumped the late Jeffrey Bernard with the single sentence ‘Rory Sutherland is in prison.’ Having just spent a day in jail or police cells in Qatar for using an electronic cigarette on a plane, I thought I would just write one piece of
I wouldn’t worry much about the future of the British economy. Because I have a simple plan to make the UK the world’s leading exporter of mobile phones. They will be manufactured by a new consortium including Alfred Dunhill, Cordings and Bowers & Wilkins. The idea came to me when I was watching coverage of
I enjoy reading reviews of kitchen gadgetry. Clever new kitchen products are often under-appreciated. Many rituals around food preparation are intended to signal personal effort, rather than to produce edible food with a minimum of fuss. There is hence a tendency towards bogus authenticity among amateur cooks which causes them to eschew labour-saving devices in
Until the late 1960s, the advertising agency J. Walter Thompson ran something called a ‘copy test’. It was a series of questions designed to uncover people with the kind of perverse imaginative talent necessary to work in their creative department. One question, for instance, was ‘Describe, using no more than 50 words, a piece of
It was about a week ago, at 8 p.m., when our blackout happened. In the 1980s people would have headed for the bedroom or out to loot the local off-licence. In 2013, however, our first reaction was to check the battery health of our mobile phones. This relationship between sex, crime and consumer electronics may
Some people are gay. Get over it’ — this was the slogan for a campaign against homophobia. A series of YouTube videos follows the same approach: a cameraman asks people on the street, ‘When did you choose to be straight?’ The subtext — that sexual orientation is innate, not chosen — has undoubtedly succeeded in promoting tolerance. The only strange
I am still waiting for someone to refute my argument that it would be possible to reduce the journey time between London and Manchester or Birmingham for many rail passengers by between 20 and 40 minutes — and to improve effective capacity — at about 0.001 per cent of the cost of HS2. This would be done
Someone in New York told me this story. I admit that I didn’t believe it when I first heard it. But a little online research seems to confirm that it is true. It concerns a group of people who had bought early versions of the Tesla Model S, a $90,000 high-performance electric car much loved
‘Sorry, I’d love to go the pub this evening, but I have to go out. It’s my wife’s wedding anniversary.’ This Freudian slip was uttered by one of my colleagues a few years ago. It sprang into mind when I was casually browsing reviews of restaurants and hotels on TripAdvisor. I always head for the
From Edinburgh airport there are more than 45 flights a day to London. And, I imagine, the same number back. You can fly from Edinburgh to London Heathrow, -London Gatwick, London Luton, -London Stansted and London City — even to the optimistically named -London Southend. Glasgow offers a similar choice. I have often used these
I am surprised no more attention has been given to Martin Vander Weyer’s suggestion in The Spectator two weeks ago that a mansion tax should be levied on those buyers who pay no other UK tax. Why has it taken so long for anyone to raise this idea? Where tax paid against income should be
I’m off to Balcombe this weekend. In fact I might even carry a placard and paint my face with a clever pun, like ‘F*** off!’ or ‘Go f*** yourself.’ Because it’s time to add my voice in opposition to a greedy industry which threatens your ground-water, exudes greenhouse gases, leaches chemicals into the earth, destroys the beauty
