--- title: "Meaning & Key Takeaway of: This is nothing less than a whole new…" description: "\"“This is nothing less than a whole new approach to economics. The randomistas don’t think in terms of models. They don’t believe humans are rational ac..." image: "https://sms4smile.com/quotes/i/71a/rutger-bregman-2463_difficult-time_this-is-nothing-less-than-a-whole-new-ap_1193586.jpg" --- # This is nothing less than a whole new approach to… ![“This is nothing less than a whole new approach to economics. The randomistas don’t think in terms of models. They don’t believe humans are rational actors. Instead, they assume we are quixotic creatures, sometimes foolish and sometimes astute, and by turns afraid, altruistic, and self-centered…” quote by Rutger Bregman](https://sms4smile.com/quotes/i/71a/rutger-bregman-2463_difficult-time_this-is-nothing-less-than-a-whole-new-ap_1193586.jpg) [Download](https://sms4smile.com/quotes/i/71a/rutger-bregman-2463_difficult-time_this-is-nothing-less-than-a-whole-new-ap_1193586.jpg) [Open image](https://sms4smile.com/quotes/i/71a/rutger-bregman-2463_difficult-time_this-is-nothing-less-than-a-whole-new-ap_1193586.jpg) > ““This is nothing less than a whole new approach to economics. The randomistas don’t think in terms of models. They don’t believe humans are rational actors. Instead, they assume we are quixotic creatures, sometimes foolish and sometimes astute, and by turns afraid, altruistic, and self-centered. And this approach appears to yield considerably better results. So why did it take so long to figure this out? Well, several reasons. Doing randomized controlled trials in poverty-stricken countries is difficult, time consuming, and expensive. Often, local organizations are less than eager to cooperate, not least because they’re worried the findings will prove them ineffective. Take the case of microcredit. Development aid trends come and go, from “good governance” to “education” to the ill-fated “microcredit” at the start of this century. Microcredit’s reckoning came in the form of our old friend Esther Duflo, who set up a fatal RCT in Hyderabad, India, and demonstrated that, all the heartwarming anecdotes notwithstanding, there is no hard evidence that microcredit is effective at combating poverty and illness.13 Handing out cash works way better. As it happens, cash handouts may be the most extensively studied anti-poverty method around. RCTs across the globe have shown that over both the long and short term and on both a large and small scale, cash transfers are an extremely successful and efficient tool.14”” [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The quote argues that moving away from rational‑actor models toward recognizing human irrationality and variability improves economic interventions, especially cash transfers over microcredit **In simple terms:** Accepting human unpredictability leads to better poverty solutions like cash aid Key Takeaway Embrace realistic human behavior in economics Themes economics development behavioral science Mood critical optimistic Type policy research When to use this quote - policy design - development programs - research methodology Key Concepts human irrationality randomized trials Questions to Reflect On - How can we balance rigorous evidence with practical constraints? - What ethical concerns arise in testing poverty interventions? A Different Perspective Randomized trials are costly and face local resistance, limiting evidence generation ★ ★ ★ ★ ★ No ratings yet [Difficult time](https://sms4smile.com/quotes/about/difficult-time/) [Old friend](https://sms4smile.com/quotes/about/old-friend/) ## Related quotes > [If we were truly in the studio making a record, it would have been more time consuming, and certainly I would have been more…](https://sms4smile.com/quotes/taylor-dayne/if-we-were-truly-in-the-studio-making-a-record-it-would-have-been/) [Taylor Dayne](https://sms4smile.com/quotes/author/taylor-dayne/) > [“Spring is for planting the seed because the morning dew is perfect! It has the right amount of sun and the breeze is blowing…](https://sms4smile.com/quotes/charlena-jackson/spring-is-for-planting-the-seed-because-the-morning-dew-is-perfect-it/) [Charlena Jackson](https://sms4smile.com/quotes/author/charlena-jackson/) > [An eviction is an incredibly time consuming and stressful event.](https://sms4smile.com/quotes/matthew-desmond/an-eviction-is-an-incredibly-time-consuming-and-stressful-event/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [I did community theater and kids programs at professional theaters and plays at school and voice lessons for seven years. I stopped because it…](https://sms4smile.com/quotes/tavi-gevinson/i-did-community-theater-and-kids-programs-at-professional-theaters/) [Tavi Gevinson](https://sms4smile.com/quotes/author/tavi-gevinson/) > [I work a lot with a green screen, which is really time consuming. All the special effects are.](https://sms4smile.com/quotes/meaghan-rath/i-work-a-lot-with-a-green-screen-which-is-really-time-consuming-all/) [Meaghan Rath](https://sms4smile.com/quotes/author/meaghan-rath/) > [“This is often the primary difference between him and so many of those of us who follow him. When we encounter the many ills…](https://sms4smile.com/quotes/john-pavlovitz/this-is-often-the-primary-difference-between-him-and-so-many-of-those/) [John Pavlovitz](https://sms4smile.com/quotes/author/john-pavlovitz/) > [I like to work with a combination of analog and Pro Tools. I love the sound of analog tape, but there's so many things…](https://sms4smile.com/quotes/kate-bush/i-like-to-work-with-a-combination-of-analog-and-pro-tools-i-love-the/) [Kate Bush](https://sms4smile.com/quotes/author/kate-bush/) > [I had a baby and that is pretty time consuming.](https://sms4smile.com/quotes/konkona-sen-sharma/i-had-a-baby-and-that-is-pretty-time-consuming/) [Konkona Sen Sharma](https://sms4smile.com/quotes/author/konkona-sen-sharma/) > [I know that some people feel that cooking is time consuming, but cooking is an activity that you can do for yourself and you'll…](https://sms4smile.com/quotes/william-katt/i-know-that-some-people-feel-that-cooking-is-time-consuming-but/) [William Katt](https://sms4smile.com/quotes/author/william-katt/) > [I think training your instinct comes from writing and reading. There's no big secret. 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All of them had to be… ](https://sms4smile.com/quotes/frank-luntz/there-are-about-50-or-60-recommendations-in-win-for-how-to/) [Frank Luntz](https://sms4smile.com/quotes/author/frank-luntz/) > [It never ends,It hurts! Its painful,Miserable and Time consuming! I hate it!](https://sms4smile.com/quotes/jazzy/it-never-ends-it-hurts-its-painful-miserable-and-time-consuming-i/) [Jazzy](https://sms4smile.com/quotes/author/jazzy/) > [I can get really obsessive. I like writing many drafts, and I try not to because it is very time-consuming, especially when you're working…](https://sms4smile.com/quotes/carol-windley/i-can-get-really-obsessive-i-like-writing-many-drafts-and-i-try-not/) [Carol Windley](https://sms4smile.com/quotes/author/carol-windley/) ## More by Rutger Bregman > [“If all the developed countries would let in just 3% more immigrants, the world’s poor would have $305 billion more to spend, say scientists…](https://sms4smile.com/quotes/rutger-bregman/if-all-the-developed-countries-would-let-in-just-3-more-immigrants/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [“When Lehman Brothers collapsed on September 15, 2008, and inaugurated the biggest crisis since the 1930s, there were no real alternatives to hand. No…](https://sms4smile.com/quotes/rutger-bregman/when-lehman-brothers-collapsed-on-september-15-2008-and-inaugurated/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [I think one of the most important facts of basic income would be that it's not only a redistribution of income, but also of…](https://sms4smile.com/quotes/rutger-bregman/i-think-one-of-the-most-important-facts-of-basic-income-would-be-that/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [The great thing about money is that people can use it to buy things they need instead of things self-appointed experts think they need.](https://sms4smile.com/quotes/rutger-bregman/the-great-thing-about-money-is-that-people-can-use-it-to-buy-things/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [“The idea that the GDP still serves as an accurate gauge of social welfare is one of the most widespread myths of our times.…](https://sms4smile.com/quotes/rutger-bregman/the-idea-that-the-gdp-still-serves-as-an-accurate-gauge-of-social/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [Most of Mark Zuckerberg's income is just rent collected off the millions of picture and video posts that we give away daily for free.…](https://sms4smile.com/quotes/rutger-bregman/most-of-mark-zuckerberg-s-income-is-just-rent-collected-off-the/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [“To calculate the GDP, numerous data points have to be linked together and hundreds of wholly subjective choices made regarding what to count and…](https://sms4smile.com/quotes/rutger-bregman/to-calculate-the-gdp-numerous-data-points-have-to-be-linked-together/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [“Countless studies have shown that people who work less are more satisfied with their lives.37 In a recent poll conducted among working women, German…](https://sms4smile.com/quotes/rutger-bregman/countless-studies-have-shown-that-people-who-work-less-are-more/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [“Precisely when we should be shouldering the historic task of investing this rich, safe, and healthy existence with meaning, we’ve buried utopia instead. There’s…](https://sms4smile.com/quotes/rutger-bregman/precisely-when-we-should-be-shouldering-the-historic-task-of/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [Believing in the good of humanity is a revolutionary act - it means that we don't need all those managers and CEO's, kings and…](https://sms4smile.com/quotes/rutger-bregman/believing-in-the-good-of-humanity-is-a-revolutionary-act-it-means/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [Poor people aren't making dumb decisions because they are dumb, but because they're living in a context in which anyone would make dumb decisions.](https://sms4smile.com/quotes/rutger-bregman/poor-people-aren-t-making-dumb-decisions-because-they-are-dumb-but/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [“The bottom line is that wealth can be concentrated somewhere, but that doesn’t also mean that’s where it’s being created. This is just as…](https://sms4smile.com/quotes/rutger-bregman/the-bottom-line-is-that-wealth-can-be-concentrated-somewhere-but-that/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [“Recently, the International Monetary Fund published a report which revealed that too much inequality even inhibits economic growth.22 Perhaps the most fascinating finding, however,…](https://sms4smile.com/quotes/rutger-bregman/recently-the-international-monetary-fund-published-a-report-which/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [“Not coincidentally, the countries with the shortest workweeks also have the largest number of volunteers and the most social capital.”](https://sms4smile.com/quotes/rutger-bregman/not-coincidentally-the-countries-with-the-shortest-workweeks-also/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [It matters so much that from a very early age we encounter different kinds of different people, because that's what real life should be…](https://sms4smile.com/quotes/rutger-bregman/it-matters-so-much-that-from-a-very-early-age-we-encounter-different/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) [Explore all 164 Rutger Bregman quotes ](https://sms4smile.com/quotes/author/rutger-bregman/) ## More Difficult time quotes > [Don't compare your career to anyone else's. 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I was having a difficult time with that…](https://sms4smile.com/quotes/danielle-brooks/don-t-compare-your-career-to-anyone-else-s-it-s-tough-when-you-re-in/) [Danielle Brooks](https://sms4smile.com/quotes/author/danielle-brooks/) > [Everyone knows that when you go through a divorce, it's a really difficult time for both parties and you've all - you believe, you…](https://sms4smile.com/quotes/heather-mills/everyone-knows-that-when-you-go-through-a-divorce-it-s-a-really/) [Heather Mills](https://sms4smile.com/quotes/author/heather-mills/) > [Washington culture has always had a difficult time acknowledging untruth.](https://sms4smile.com/quotes/timothy-noah/washington-culture-has-always-had-a-difficult-time-acknowledging/) [Timothy Noah](https://sms4smile.com/quotes/author/timothy-noah/) > [Truth of life is that in difficult times, my family was my backbone.](https://sms4smile.com/quotes/manisha-koirala/truth-of-life-is-that-in-difficult-times-my-family-was-my-backbone/) [Manisha Koirala](https://sms4smile.com/quotes/author/manisha-koirala/) > [I did not come to Mumbai to act. I came here to look for a job as our business had shut down, and it…](https://sms4smile.com/quotes/anupriya-goenka/i-did-not-come-to-mumbai-to-act-i-came-here-to-look-for-a-job-as-our/) [Anupriya Goenka](https://sms4smile.com/quotes/author/anupriya-goenka/) > [True friends not only support you in difficult times, but also help with a way out.](https://sms4smile.com/quotes/anurag-prakash-ray/true-friends-not-only-support-you-in-difficult-times-but-also-help/) [Anurag Prakash Ray](https://sms4smile.com/quotes/author/anurag-prakash-ray/) > [“Watching someone you love go through difficult times is like being trapped in your own body but paralyzed. You want to yell at them,…](https://sms4smile.com/quotes/rachel-van-dyken/watching-someone-you-love-go-through-difficult-times-is-like-being/) [Rachel Van Dyken](https://sms4smile.com/quotes/author/rachel-van-dyken/) > [“It’s easy to see what to do once it’s already been done. The difficult time is before it’s to be done, and while you’re…](https://sms4smile.com/quotes/jarod-kintz/it-s-easy-to-see-what-to-do-once-it-s-already-been-done-the-difficult/) [Jarod Kintz](https://sms4smile.com/quotes/author/jarod-kintz/) > [“sometimes our lives have moments of great disappointment. It’s difficult at the time, but we have to move beyond.”](https://sms4smile.com/quotes/nicky-charles/sometimes-our-lives-have-moments-of-great-disappointment-it-s/) [Nicky Charles](https://sms4smile.com/quotes/author/nicky-charles/) > [Even when there was a difficult time for me I was always focused on my job or I was always working hard. That is…](https://sms4smile.com/quotes/lukasz-fabianski/even-when-there-was-a-difficult-time-for-me-i-was-always-focused-on/) [Lukasz Fabianski](https://sms4smile.com/quotes/author/lukasz-fabianski/) > [Most single people I know, myself included, have a difficult time even meeting up with the people they like, be it busy schedules, texting…](https://sms4smile.com/quotes/aziz-ansari/most-single-people-i-know-myself-included-have-a-difficult-time-even/) [Aziz Ansari](https://sms4smile.com/quotes/author/aziz-ansari/) > [ I can assure the conspiracy theorists who have very effectively savaged \[Gerald\] Posner in their books that they're going to have a much, much… ](https://sms4smile.com/quotes/vincent-bugliosi/i-can-assure-the-conspiracy-theorists-who-have-very-effectively/) [Vincent Bugliosi](https://sms4smile.com/quotes/author/vincent-bugliosi/) > [With every failure, every crisis, every difficult time, I say - What is this here to teach me? 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They're sent to promote, increase and strengthen you and your…](https://sms4smile.com/quotes/kemmy-nola/when-you-face-difficult-times-know-that-challenges-are-not-sent-to/) [Kemmy Nola](https://sms4smile.com/quotes/author/kemmy-nola/) [Browse all 667 Difficult time quotes ](https://sms4smile.com/quotes/about/difficult-time/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "“This is nothing less than a whole new approach to economics. The randomistas don’t think in terms of models. They don’t believe humans are rational actors. Instead, they assume we are quixotic creatures, sometimes foolish and sometimes astute, and by turns afraid, altruistic, and self-centered. And this approach appears to yield considerably better results. So why did it take so long to figure this out? Well, several reasons. Doing randomized controlled trials in poverty-stricken countries is difficult, time consuming, and expensive. Often, local organizations are less than eager to cooperate, not least because they’re worried the findings will prove them ineffective. Take the case of microcredit. Development aid trends come and go, from “good governance” to “education” to the ill-fated “microcredit” at the start of this century. Microcredit’s reckoning came in the form of our old friend Esther Duflo, who set up a fatal RCT in Hyderabad, India, and demonstrated that, all the heartwarming anecdotes notwithstanding, there is no hard evidence that microcredit is effective at combating poverty and illness.13 Handing out cash works way better. As it happens, cash handouts may be the most extensively studied anti-poverty method around. 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