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Money doesn’t exist. Economics isn’t about equations, it’s about us. Irish economist, David McWilliams, talks about the invention of money, how it drives our choices and how to make better decisions about it - our greatest, yet most divisive, invention so far. Why does traditional economics miss the mark? How can humour democratise economic literacy? Why is investing in yourself the most liberating financial decision you can make?

David is talking about his book Money: A story of Humanity - Money: A Story of Humanity - https://www.amazon.com/Money-Story-Humanity-David-McWilliams/dp/1982152958

at the Franschhoek Literary Festival in South Africa 16 - 18 May 2025.  

https://www.flf.co.za/

https://www.flf.co.za/participants/david-mcwilliams/

00:00 – 01:52 | The Nature of Economics

Why economics is about humanity, not numbers. Money as a made-up but powerful force.

01:53 – 05:45 | What Economists Get Wrong

The plumbing analogy: why economists understand mechanics but not meaning. The limits of academic jargon.

05:46 – 06:40 | The Origins of Money

Mesopotamia, the move from barter to symbols, and how money emerged as a trust technology.

06:41 – 09:10 | Commerce, Counting, and Religion

How commerce required writing, courts, laws, and even religion to underpin trust at scale.

09:10 – 14:11 | Weaponized Economics & Global Decisions

How money disciplines power—particularly in US politics. Financial markets as democracy’s silent opposition.

14:12 – 17:54 | Supercycles and Global Volatility

Understanding the big turning points in modern economic history and the new age of economic nationalism.

17:55 – 21:08 | Kilkenomics & Humor as a Lens

How comedy disarms economic elitism. Making economic insight accessible through laughter.

21:09 – 24:52 | The Ultimate Decision: Invest in Yourself

Why the most powerful financial move is personal investment—and why time always wins over money.

• Kilkenomics Festival – An economics and comedy festival in Kilkenny, Ireland - https://www.kilkenomics.com/
• Paul Krugman – Nobel laureate economist and Kilkenomics speaker - https://paulkrugman.substack.com/
• Reagan & Thatcher Era – Markers of the last economic supercycle - https://adst.org/2016/07/extra-special-relationship-thatcher-reagan-1980s/
• Xi Jinping and U.S. politics – Case studies in economic decision-making under global flux - https://en.wikipedia.org/wiki/Xi_Jinping

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Warren Buffet’s current net worth is around $165 billion. Have you ever wondered what makes him the most successful investment decision-maker in the world? This time every year, thousands of finance professionals flock to his company, Berkshire Hathaway’s AGM in Omaha, desperate to find some answers to that question. Two of the people who went last year - experienced investors, Hywel George and Terence Moll - let us in on what really goes on at what’s been called the ‘Woodstock for capitalists’. And on how Warrren Buffet has influenced their own decision-making.

Key takeaways:

• Simplicity and Patience Win: Buffett’s genius lies in making few decisions but executing them exceptionally well over time.
• Integrity Over Everything: Integrity in leadership is non-negotiable for sustainable business success.
• Emotional Intelligence Matters: Successful investing is deeply human; it requires judgment about character and emotion.
• Long-Term Mindset: Buffett’s success is powered by a focus on the next 10–50 years, not the next quarter.
• Learning from Mistakes: Buffett’s early mistakes, particularly with Berkshire Hathaway itself, helped shape a stronger investment philosophy.
• Importance of Structure: GEICO’s acquisition and use of "float" — permanent capital — was a masterstroke in capital allocation.
• Avoid Hype: Buffett and Munger’s refusal to chase trends, even at the cost of missing out temporarily, shows the value of sticking to core principles.
• Philanthropy as a Decision: Buffett’s commitment to giving away his fortune represents perhaps his most profound decision, impacting millions.

References

• Berkshire Hathaway AGM – Often called the "Woodstock for Capitalists."

·      Warren Buffett

https://www.berkshirehathaway.com/

• Key Figures:
• Charlie Munger (Buffett’s late business partner)
• Tim Cook and Bill Gates (noted attendees at the AGM)
• Companies Mentioned:
• Coca-Cola, Apple, Kraft Heinz, Bank of America
• Goldman Sachs, Amazon, Nvidia
• Philanthropy:
• Bill and Melinda Gates Foundation

Clip of Buffett addressing University of Georgia here https://youtu.be/Aa_TPj2pWLU

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Jeremy Vine is one the UK's most popular presenters. Millions of people tune in to hear him – and talk to him - on Channel 5 and BBC Radio 2 every day. He opens up about some of the many decisions he’s made during a nearly 40-year broadcasting career. What should he have done when John Prescott gave him an off-camera scoop at the 1995 Labour Conference (and what did he do)? How do he and his team decide what goes into his shows? Why did he decide that the next thing for him was writing a crime novel? And why did he really decide to do Strictly? Listen in as one of our most versatile and best-loved broadcasters lets us in on some of his innermost thought processes.

Murder on Line One comes out 24 April 2025

🕰️ Chapters

00:00 – Introduction: "TV is squash. Radio is snooker."

02:00 – Jeremy's manic morning routine and show preparation

04:20 – The power of radio and its fiercely loyal audience

07:10 – Relevance as a life force and decision-making in show content

10:35 – Values vs. views: Navigating BBC impartiality

13:00 – From Africa correspondent to Radio 2 host: Career pivots

16:15 – The Prescott tape dilemma: Should it air or not?

19:40 – What makes a good producer and working with unpredictable teams

22:15 – Real stories that resonate: The hold-all campaign for children in care

24:00 – Writing Murder on Air One: A novel rooted in personal experience

26:40 – Strictly Come Dancing, punk bands, and letting your real self show

28:30 – No retirement, only beginnings: Jeremy’s outlook on the future

References

• BBC Radio 2 – Jeremy’s flagship show with 7M+ listeners
• Channel 5 – Current affairs show taking live calls
• Newsnight / Panorama / The Today Programme – Previous roles
• John Prescott – A story of journalistic discretion
• Murder on Line One – Jeremy Vine's novel (Out April 24)
• Thursday Murder Club – Richard Osman’s whodunnit series
• Strictly Come Dancing (2015) – Vine’s dance floor debut

Find out more about Bruce here - https://www.brucewhitfield.com/

This is a Podcart production.

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“The more successful you are the more vulnerable you are to bias”. Nuala Walsh has identified 200 biases that affect all our decisions! In her book Tune In: How to Make Smarter Decisions in a Noisy World she explores how biases cloud judgment and why even smart, successful people make bad decisions. Drawing from her 30-year career in the corporate world and her behavioural science expertise, she’s created the Perimeters Framework—a practical tool to help individuals and organizations mitigate decision risk.

00:00 – Intro: The Real Risk Is Decision Risk

Bruce introduces the core theme of decision risk and welcomes guest Nuala Walsh.

01:30 – Why Nuala Walsh Chose Decision Science

Nuala shares her corporate background and what drew her to behavioural science.

04:15 – What Is ‘Decision Risk’?

Exploring why poor decision-making is often overlooked compared to economic or political risks.

05:40 – The Perimeters Framework: 10 Decision Traps

Nuala introduces her signature framework derived from 200 cognitive biases.

09:29 – Bias Bingo and Real-World Case Studies

From Trump to Theranos—how bias shows up in politics, business, and history.

12.23 – The Myth of Fast Decisions

The problem with speed over substance and the lure of decisiveness in leadership.

14:10 – Slowing Down with Decision Friction

Tactics for creating pause, using reflection, and the 5 Why’s method.

21:00 – Emotion, Fear & The Probability Test

Strategies to remove emotion and fear from high-stakes decisions.

23:15 – Regret, Self-Awareness & Long-Term Learning

How regret shapes future behaviour and why self-awareness is critical.

25:49 – Final Insights & Tools for Better Decisions

Reflection on key lessons and practical tools from Nuala’s work.

Resources & Mentions

• Book: Tune In: How to Make Smarter Decisions in a Noisy World by Nuala Walsh
• Framework: The Perimeters Framework – 10 decision traps based on over 200 cognitive biases
• Referenced Thought Leaders:
• Noah Yuval Harari – “True power means knowing what to ignore.”
• Morgan Housel – Same as Ever, focusing on what doesn’t change
• Mary Budd Rowe – Research on reflection improving judgment
• Adam Grant – Challenger Networks for diverse thinking

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US President, Donald Trump, took office exactly two months ago on the day this goes live. His decisions have got some people seriously worried – including Harvard Law Professor, Cass Sunstein. He recently warned about their possible consequences in his New York Times piece "This theory is behind Trump's Power Grab". Prof Sunstein is also the co-author of Nudge, the global best-seller that has influenced the way governments around the globe think about policy. Bruce met Cass at a conference and couldn’t pass up the chance to find out more about this revolutionary thinking that has changed the world.

5:30 What is a Nudge?

·      Defining the concept of nudging

·      The balance between freedom of choice and influence

10:15 The Science Behind Nudging

·      Why humans are susceptible to nudges

·      How choice architecture shapes behaviour

·      The role of the brain in processing decisions

14:00Real-World Applications of Nudging

·      How nudging is used in public policy and business

·      The role of automatic enrolment in behaviour change

18:45 The Ethics of Nudging

·      The potential dangers of nudging for manipulation

·      Dark patterns in marketing and politics

·      The responsibility of governments and corporations

22:30 The Power of Repetition & Misinformation

·      The illusory truth effect: why repetition makes falsehoods believable

·      Social media’s role in amplifying misinformation

26:00 Final Thoughts

·      The importance of ethical decision-making

·      How to apply nudging principles in everyday life

Professor Sunstein’s NY Times piece -  https://www.nytimes.com/2025/02/26/opinion/trump-roberts-unitary-executive-theory.html .

 Nudge: Improving Decisions About Health, Wealth, and Happiness – Cass Sunstein & Richard Thaler

Look Again – Cass Sunstein & Tali Sharot

Harvard Law School

Audio clip Credit: AP:

The Art of Deciding is produced by Podcart - https://www.podcart.co.uk/

Bruce Whitfield is an award winning journalist, best-selling author and speaker https://www.brucewhitfield.com/

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The Booker Prize is the biggest literary award in the world. It can change lives and make careers. But who decides which is the best book? How do you take a collection of subjective opinions and choose a winner? Sara Collins is a prize-winning author, broadcaster, podcaster, former lawyer and, in 2024, was a Booker judge. She takes us inside the process – which starts with reading 156 books! – and reveals her own thoughts on Samantha Harvey’s Orbital, the eventual winner. 

Chapters:

[02:10] Who decides who wins?

[06:05] A lawyer’s turn to literature

[10:30] The science behind judging art

[14:20] The emotional toll of choosing a winner

[18:15] Finding the right story

[22:05] Advice for writers and decision-makers

[25:00] Closing thoughts: the power of a well-made decision

Key Takeaways:

• There is no scientific process for judging art—subjectivity is inevitable.
• A fair judging process must create an open space for disagreement and discussion.
• Making difficult decisions means feeling the regret, but ultimately moving forward with confidence.
• The best stories are the ones that give you butterflies—you have to love what you write.
• Life is short—choose the path that truly excites and fulfils you.

References & Mentions:

• Confessions of Franny Langton (Winner of the Costa First Novel Award) https://www.amazon.co.za/Confessions-Frannie-Langton-Novel/dp/0062851802
• The Booker Prize https://thebookerprizes.com/
• Orbital – The 2024 Booker Prize winner https://www.amazon.co.za/Orbital-Novel-Booker-Prize-Winner/dp/0802161545
• How to Write a Book with Elizabeth Day https://podcasts.apple.com/cd/podcast/introducing-how-to-write-a-book-episode-1-the-idea-part-1/id1407451189?i=1000662933815

The Art of Deciding has been featured in The Guardian Podcast Newsletter, Podnews, The List, and the Podbible newsletter and more. 

Series Producer: Jayne Morgan of Podcart - https://www.podcart.co.uk/

Bruce Whitfield is an award winning journalist, best-selling author and speaker https://www.brucewhitfield.com/

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Have you stopped remembering routes because you’ve got Google maps? Would you rely on Chat GPT for advice on how to split up with your partner? Should you say ‘please’ and ‘thank you’ to Alexa? We have some suggestions. Mark Purdy, co-founder and director of Beacon Thought Leadership is also an economist and tech enthusiast. He shares his ideas on the impact of artificial intelligence on decision-making - in industry, in society and in our individual lives. 

Chapters:

1. [00:00] Introduction: The rise of AI and its global influence
2. [02:15] Mark Purdy’s Journey: From economics to AI research
3. [06:45] AI as a Decision-Making Tool: Advantages and limitations
4. [12:10] Human Judgment vs. Machine Precision: Why judgment still matters
5. [16:20] The Future of Work: How AI may impact jobs and skill-building
6. [21:00] Ethics, Bias, and the Risks of Automation: What we must watch out for
7. [25:10] Final Thoughts: The future of AI and maintaining human control

Key Quotes:

• “Human judgment must always be part of the equation. The machine can process data, but only we can make ethical decisions.”
• “Generative AI is a liberator of time—if we use it the right way.”
• “The greatest danger with AI is putting too much trust in it. We must stay in control.”
• “You can’t learn a skill by letting technology do it for you.”

Key Takeaways:

• AI can improve decision-making by offering data-driven insights and removing mundane tasks, but human judgment and ethics are still critical.
• Bias in AI algorithms remains a risk because they learn from historical data, which can reflect existing inequalities.
• AI is transforming industries like legal analysis and recruitment but raises concerns about job displacement and the loss of entry-level roles that help build expertise.
• Maintaining expertise currency is essential. Relying too heavily on automation may erode critical skills over time.

Links & Resources:

• Learn more about Mark Purdy’s work in economics and AI https://markpurdy.co.uk/

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The Art of Deciding has been featured in The Guardian Podcast Newsletter, Podnews, The List, and the Podbible newsletter, amongst others. 

The Art of Deciding is produced by Podcart - https://www.podcart.co.uk/

Series Producer: Jayne Morgan

Bruce Whitfield is an award winning journalist, best-selling author and speaker https://www.brucewhitfield.com/

Hosted on Acast. See acast.com/privacy for more information.

What is the ideal number of people to involve in a collective decision? What do we need to be happy - and effective - in a group? Why should more companies have pubs?

Professor Robin Dunbar is Professor of Evolutionary Psychology at the University of Oxford. He’s famous for Dunbar’s number - the limit to the amount of meaningful relationships that we can have at any one time (listen to the podcast to find out what it is). Sam Rockey is an Associate Fellow at Saïd Business School - also at Oxford - and a consultant who has helped many multi-nationals improve their performance. Their book (with Tracey Camilleri), The Social Brain: The Psychology of Successful Groups, looks at how we function collectively, why we’re hard-wired to do so and how to create more powerful organisations - including how we make decisions.

Key Topics:

• Evolutionary Roots of Decision-Making: Humans thrive in social groups, but modern structures create new challenges.
• Optimal Group Sizes for Decision-Making:
• 4-5: Quick, effective decisions.
• 6-12: Best for brainstorming.
• 12-15: Ideal for complex discussions.
• The Social Brain & Business Strategy: Lessons from SAB Miller on fostering connection and collaboration.
• The Thrive Model for Organizations:
• Collective Purpose
• Belonging & Trust
• Learning & Culture
• Shared Values
• Leadership & Decision-Making: Insights from Jeff Bezos & Elon Musk on meeting efficiency.
• The Role of Trust: Trust enables faster, better decisions.
• Reimagining the Future of Work: Moving beyond industrial-era business models.

Resources & References Mentioned:

• Robin Dunbar’s Work: Dunbar’s Number
• The Social Brain: The Psychology of Successful Groups – https://www.thesocialbrainbook.com
• Robin Dunbar - https://www.psy.ox.ac.uk/people/robin-dunbar
• Sam Rockey, Thompson Harrison https://www.thompsonharrison.com
• SAB Miller https://www.sabmiller.com

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The Art of Deciding has been featured in The Guardian Podcast Newsletter, Podnews, The List, and the Podbible newsletter, amongst others. 

The Art of Deciding is produced by Podcart - https://www.podcart.co.uk/

Series Producer: Jayne Morgan

Bruce Whitfield is an award winning journalist, best-selling author and speaker https://www.brucewhitfield.com/

Hosted on Acast. See acast.com/privacy for more information.

“Be brilliant for ten minutes a day.” Is that enough? It’s worked for award-winning West End and Broadway producer, Colin Ingram who spends his life making multi-million-pound decisions about what audiences are going to like. Sometimes he’s right – his Back to the Future: The Musical is a smash hit. But sometimes he’s wrong – his Gone With The Wind crashed and burned. How does he get into people’s heads? What has he learned? What can we learn from him?

• "The only thing that doesn't lie is the box office." You’ve got to be realistic about whether something is actually working or not and make tough decisions – even if it’s your personal passion or your creative team promise they can save it. He talks us through the lessons he learned with his unsuccessful production of Gone With The Wind.
• "Success is as hard as failure." There are pitfalls involved in big successes – especially if you’re young and inexperienced. It can cloud your vision and so interfere with your decision-making .
• "Be brilliant for 10 minutes a day." There are those moments that make all the difference. No one can be 100% all the time - so don’t put yourself under that kind of pressure. But if you can be inspired just for a short time each day, it can make the difference between success and failure.

Chapters:

(00:56) One of life's big pleasures is deciding to go to a show

(02:42) Colin Ingram is one of the West End's most successful producers

(06:08) Colin’s early days working for Cameron Macintosh

(08:06) What decisions would you have made differently today versus the younger version of you

(09:35) Colin’s process, considering a theatre production from conception to execution can take a decade

(21:43) Making big decisions that are not always popular can be difficult

(24:03) Be brilliant for 10 minutes a day

References

Colin Ingram: https://coliningramltd.com

Back to the Future: The Musical https://www.backtothefuturemusical.com

Ghost the Musical https://www.ghostthemusical.com

Billy Elliot the Musical https://billyelliotthemusical.com

Cameron Mackintosh https://www.cameronmackintosh.com

The Art of Deciding has been charting in the top 10, and featured in The Guardian Podcast Newsletter, Podnews, The List, and the Podbible newsletter, amongst others. 

The Art of Deciding is produced by Podcart - https://www.podcart.co.uk/

Series Producer: Jayne Morgan

Hosted on Acast. See acast.com/privacy for more information.

New Year, new decisions to make? Here is a collection of the best pieces of decision-making advice from The Art of Deciding so far - all designed to make 2025 your year of making the right choices. More episodes coming soon.

Bruce Whitfield is an award winning journalist, best-selling author and popular speaker. More here: www.brucewhitfield.com

You can also follow him on Linkedin and get links to all his latest projects on Linktree

The Art of Deciding has been featured in The Guardian Podcast Newsletter, Podnews, The List, and the Podbible newsletter. 

It's produced by Podcart - https://www.podcart.co.uk/

Series Producer: Jayne Morgan

Hosted on Acast. See acast.com/privacy for more information.