Blindness Quote by Daniel Kahneman
“However, optimism is highly valued, socially and in the market; people and firms reward the providers of dangerously misleading information more than they reward truth tellers. One of the lessons of the financial crisis that led to the Great Recession is that there are periods in which competition, among experts and among organizations, creates powerful forces that favor a collective blindness to risk and uncertainty.”
About This Quote
Source Book: Thinking, Fast and Slow, 2011
Optimism can be rewarded despite being misleading, leading to collective risk blindness.
In simple terms: Optimism often wins over truth.
Key Takeaway
Beware of over‑optimistic bias.
Themes
optimism
risk
market behavior
Mood
cautious
analytical
Type
financial
psychological
When to use this quote
- investment decisions
- policy making
- media reporting
- corporate strategy
Key Concepts
behavioral finance
cognitive bias
Questions to Reflect On
- When is optimism justified?
- How to balance optimism with realism?
A Different Perspective
Optimism may sometimes be necessary for progress.
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