#9 | Incorrect assumptions, wrong-headed bans. How game theory and freedom of the individual ensure prosperity

Crises erupt suddenly out of normality because we are unable to predict certain things, and our attempts to change situations through targeted prohibition are short-sighted according to Professor Christian Rieck, a leading expert on game theory who is a popular YouTube influencer with over 270,000 followers in Germany. Georgiy Michailov, Managing Partner of the consultancy Struktur Management Partner, interviewed Dr Rieck, who elucidates everyday phenomena as well as political, economic and historical developments by applying game theory.

Because who wants to save CO2, for example, if it causes their own standard of living to fall in the process? It would be much better to indicate ways in which people can maintain or even improve their standard of living by actively contributing to climate protection, Rieck is certain. With the help of game theory, the well-known YouTube influencer gives important explanations of everyday but also political, economic and historical phenomena, and thus also provides the basis according to which we can make better decisions in future and adjust rules in such a way that we are not plunged straight into another new crisis. He thus also questions whether the unconditional basic income can really guarantee the living standards of all, and comes to the conclusion that it is actually just a trick. The average person in society would in fact become poorer, and a new crisis would thus be provoked through false assumption, the gaming theoretician explains in the current LeaderTalk. So how can we manage to prevent or compensate for such false assumptions? Through lots of personal freedom, Rieck makes clear. Personal freedom forms the basis of an individual’s will to change. And in order to sweep people along with us, we need to dispense with hollow words, clear presentations and lectures of all buzzwords, and above all, speak rapidly. Because with the right bit rate, simple language and good content, listeners just do not have the time to get bored, the professional advises in conclusion. In the current podcast, you will also hear what else game theory explains, why it is the explanatory basis for systems theory, and how Prof. Rieck’s concept of “Digni” money could secure growth and prosperity in the future.

*Video only in German