As an economist, Russ Roberts has been taught to approach decision-making by conducting an analysis, weighing tradeoffs, and then rationally budgeting resources to get the most bang for his buck. But as he explains in his new book, Wild Problems: A Guide to the Decisions That Define Us, he found this approach woefully inadequate for grappling with life’s biggest decisions — things like figuring out whether to get married or how to live a meaningful life.

Today on the show, Russ and I delve into why the pros and cons approach to decision-making is inadequate when facing what he calls “wild problems.” Russ explains that what makes life’s big decisions so difficult to deal with is the fact that we don’t know what they’ll be like before we make them, the decisions themselves will transform us into different people, and their effects can be permanent, making such decisions akin to choosing to become a vampire. From there we turn to strategies for dealing with the inherent uncertainty around wild problems, including looking beyond basic happiness, considering tradition, and trying things out by experience.

#831: Grappling With Life’s “Wild Problems”

My Broadcasted Liveset from Party Zone! 103.1 FM WPNA - Chicago - www.wpna.fm/party-zone

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Lewis Howes had aspirations of being a pro football player, and he was on the path to making it happen for himself. After a career-ending injury, and year spent on his sister's couch, he started an online business which became a big success. Since then, he's started a podcast called The School of Greatness, in which he interviews people about what it means to live a flourishing life. He has a new book by the same name, and on today's show Lewis and I talk about how to live the good life. 

#152: The School of Greatness

The Art of Manliness