Manhattan Institute

Managing Risk in Unexpected Places

10 Blocks podcast

Economist Allison Schrager joins City Journal editor Brian Anderson to discuss her new book, An Economist Walks Into A Brothel: And Other Unexpected Places to Understand Risk.

Risk is a universal fact of life, but some of us manage more of it than others. Schrager examined how a broad cross section of people handle it: horse breeders in Kentucky, members of an elite tank unit during the Gulf War, paparazzi who stalk celebrities, prostitutes in Nevada brothels. She lays out five principles for dealing with risk and explains how financial tools can help guide people through uncertainty.

More from Manhattan Institute

Manhattan Institute3 min read
After the Fire
This spring, the burning of Notre-Dame in Paris aroused a universal emotional response. The French, ordinarily divided and irreligious, found themselves united in grief. Global condolences translated into considerable donations, recalling oil titan J
Manhattan Institute3 min read
Insult To Injury In The Rust Belt
The region’s economic problems are challenging enough, but political corruption makes them even harder to address.
Manhattan Institute4 min read
Reimagining Legal Education, Part 2
In a recent article for City Journal, I profiled Lincoln Memorial University’s Duncan School of Law, a new institution in Knoxville that offers skills-based training at a lower cost than the prevailing model of legal education. Another “alternative”