NPR logo

Grandma's Advice Is Best In Hard Financial Times

  • Download
  • <iframe src="https://www.npr.org/player/embed/95420469/95420447" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Grandma's Advice Is Best In Hard Financial Times

Your Money

Grandma's Advice Is Best In Hard Financial Times

Grandma's Advice Is Best In Hard Financial Times

  • Download
  • <iframe src="https://www.npr.org/player/embed/95420469/95420447" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

The Wall Street financial crisis started with symptoms of panic, followed by an infection of fear and distrust. But what drives this type of psychology in the markets, and what might be the medicine to protect against future toxic thinking? Tim Harford, a columnist for the Financial Times, tells Ari Shapiro that the best thing to do is to follow Grandma's advice: don't borrow too much and don't take too many risks.

Related NPR Stories