02/05/2009 - Richard Thaler

Richard Thaler is one of the founding fathers of a whole new branch of economics and, it's reckoned, one of the foremost intellects to have shaped the thinking of the Obama administration in Washington.

He explains why people's behaviour in a crisis is never rational, why we all need a gentle nudge to do the right thing now and then, and how giving the financial system a nudge could just get the world out of recession.