It is very interesting theory. Capitalism is based on credit. It means debt. Without the people 

  constantly borrowing, economy does not survive. The rich do not spent much out of his

  income. The poor have to spend all of his income and need to borrow. The wise guys do know

  how to save and unlikely to borrow. They get rich. The stupid people will fall into the temptation

  to spend unwisely. They become financially broken. The income difference between the rich and poor

  widens. The whole economy can not go on because the borrowing(credit) stops. The good example is the great

  depression in 1930 and the Great Recession in 2008. Psychological flaws in human economic

  behavior perhaps a necessary evil in capitalism. However, only to a certain extent.

Aeschylus 525BC - 456BC
"It is always the season for the old to learn."
 

This concludes this year's list of Nobel Prize Winners.

It is always making the old man like me feel fresh or young to learn something new.

In that regard I personally thank all the winners once again to help me expand the horizon of

my knowledge base and feel fresh and young.

Thank you, Dr. Ohn, for your comment and insight.

To be sort of devil's advocate, unfortunately I'm afraid in spite of what you said

humans cannot be categorized into two classes, wise one and stupid one, the rich and the poor, etc, etc.

Humans are too complicated. Capitalism is too complicated. Human behaviors are too complicated.

All the recent advancement and discoveries in neuroscience continue to show just how complex human brains are,

and indeed many are saying human brains are a lot more complex or at least equally so than the universe 

we all are born into. It is indeed pitiful to realize how little we know ourselves and the universe in spite of

all the knowledge we have gained and accumulated. I'm afraid the knowledge we gained are making humans

too proud and arrogant which can be self-destructive in the end.

A long, long time ago I begged myself to remain as a lifetime student and

always open minded to learn from anybody or anything

basically because I do not know anything for the true sense of the words.

No wonder I'm poor and stupid according to Dr. Ohn's theory.

But life will go on regardless.

I found the professor is a very intersting human being

when I read Korean news article about how he would

spend $1,000,000 prize money. Shall we read together?

http://news.donga.com/Main/3/all/20171010/86671548/1

And I shall move this page to my high school web later days.

There are few things we can learn even at our age. Thanks.

Thank you, Dr. Bang, for the article above which

explains Dr. Thaler's work very nicely for us.