The Rubin Report
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The Rubin Report is the largest talk show about free speech and big ideas. Dave Rubin goes one on one with thought leaders, authors, comedians, and more.
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October 17, 2019

Finally! Thank you for this, Dave!

I have a theory that I think this community is uniquely capable of providing feedback on, and any thoughts would be appreciated.

Through the lens of economics and Prospect Theory, we can better understand the dangerous increase in people's willingness to "gamble" with the current western society/ government structure.

Prospect Theory tells us that people don't consider the value of things objectively; they consider them subjectively in relation to a reference point. Consider the following:

Winning a prize of $30 vs. Winning a prize of $10

Winning a prize of $1030 vs. Winning a prize of $1010

In the first example, you notice and feel the difference from the gain of $20 more than the second, because it is closer to the reference point- in this case, $0.

Take another example:

Purchasing a toaster for $30 instead of $50, a $20 savings.

Purchasing a computer for $1030 instead of $1050, a $20 savings.

Again, the same savings ...

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