Forgot something

In a rush to get my post done so I could study for my Operations quiz, I left off a great idea of Peter Ubel's I wanted to have here.

In the interview, he was asked "Are there things we can do to construct markets themselves differently so they actually take human nature into account better than the existing free market system?"

Now, his answer is easy. Very easy. In fact, we started doing this already in places like student loans.

"Sure, lets take things like conflict of interest. Say I am a credit rating agency; if you look at one of the causes of this mortgage its that the credit rating agencies weren't saying these loans were as risky as they were. And one possible explanation of that is they had conflicts of interest. They were working with these banks and mortgage companies, getting OTHER business from them. Its just human nature, when you are in that kind of complicated relationship, that being in one part of the relationship will influence how you work in the other part of the relationship; you are going to be less confrontational. You're not going to want to hurt someones feelings; harm the relationship because its important to your other part of your business. This is something we can regulate."

Feelings. Feelings are another reason why we are in this.

People need to learn and use the Ben Franklin decision tool. Basically, wright your problem at the top of the page, and divide it into two sections. One is the Pro side, the other the Con.

This will help take feelings and emotion out of decisions. Please. Use it!