COLUMN: Can cryptocurrencies reduce global poverty? Behavioral economics guru Richard Thaler, this year’s Nobel Prize laureate in economics, has showcased that people are economically imperfect. Since humans are irrational we don’t fit neatly into economic models. We have cognitive limitations, social preferences, or, dare it to be said, big problems with self-control. When it comes to decisions about saving our money or investing wisely in order to ensure predictable returns and a safer future, forget it. We tend to procrastinate, and most often, worse, we opt for instant gratification. The easy fix, even when we know better. It’s in the numbers. The sad truth is that we are hot-wired to make bad economic choices.