BOOKLET: Nobel 2017: The Lunatics are Running the Asylum



Professor Jorge Sá (PhD Columbia University; MBA Drucker University; Jean Monnet Chair; Peter Drucker speaker) is an international speaker and author, having published several books on business and economics topics, translated into twelve languages.

Together with our office, Professor Jorge Sá also produced small booklets on business administration, economics and other topics, namely the booklet:

“Nobel 2017: The Lunatics are Running the Asylum”

The 2015 appointment of Nobel laureate Richard Thaler as president of the American Economic Association led him to declare that “the lunatics are running the asylum”. Portraying the revolution that is taking place in the economy and increasingly in management, most specially in the areas of pricing and negotiation/sales, where behavioral economics created 30 and 52 new techniques, respectively.

In fact, contrary to many Nobel Prizes, the 2017 Nobel Prize Richard Thaler rewarded a change of paradigm, that is, the foundations of economic theory and management, following another previous Nobel Prize in 2002 (with Daniel Kahneman).

This booklet focuses on the work of these two Nobel Prizes on the field of behavioral economics and what it brought of new: laboratory and field tests, to observe how, in reality, people behave. And thus concluding that the three hypotheses of traditional/orthodox economics were wrong: 1) people do not have perfect information; 2) they are not (always) rational (not emotional) in their decisions; and 3) they do not optimize (cover below).


1. Jorge Sá is an expert on Peter Drucker and Philip Kotler, founders of modern management and modern marketing, respectively, with whom he studied and who offered letters of recommendation for his books and endorsements for his work, having lectured at the four Lisbon universities: Nova School of Business and Economics; Catholic University; Lisbon State university; and AESE associated with IESE at Barcelona.

2. Has a master’s degree from the Peter F. Drucker Graduate School of Management in California and a doctorate(PhD) in Business Administration, from Columbia University, in New York, where he was research, teaching assistant, and graduated with honors (always Dean’s list, Beta Gamma Sigma). Also holds two undergraduate degrees (in business administration and economics) and a graduate degree in Macroeconomics.

3. Was awarded the Jean Monnet Chair by the Jean Monnet Foundation in Brussels, and his books translated into twelve languages: English, Portuguese, Spanish, Chinese (Mandarin), Russian, Ukrainian, German, Lithuanian, Thai, Korean, Norwegian and Iranian, received endorsements, among others, from Peter F. Drucker, Cecily Drucker, Al Ries (author of the bestsellers Marketing Warfare and Positioning), Don Hambrick (Professor at Columbia University and The Pennsylvania State University), Karl Moore (Professor at Oxford and McGill University), Peter Starbuck (President of the London Drucker Society) and Philip Kotler.

4. Besides over thirty articles published in blind refereed reviews and journals of economics, business administration and medicine, he has addressed conferences and given seminars at several institutions including TED USA (https://youtu.be/SOkjPVi1Fts), London Business School, Drucker University, IESE, Glasgow Business School, ESSEC (France), ESSAM (European Consortium of Business Schools), Manchester Business School, George Washington University, Oxford, etc. Has also addressed conferences and presented articles in academic and non-academic meetings, such as Academy of Management, Western Economic Association, Peter Drucker Society of Europe, at the European Commission, etc.

5. Has worked as private consultant, non-executive director or taught in the executive programs of multinational companies such as: Coca-Cola, SHELL, Unisys, IBM, Price Waterhouse, KPMG, Glaxo, British Petroleum – BP, Dun & Bradstreet, Deloitte & Touche, Makro (Metro group), Systéme U, I.F.A, Intermarché, Mini Prix Bonjours, Accenture, Watson Wyatt, Cap Gemini, Cesce, Scottish & Newcastle, Sara Lee, Total, Johnson & Johnson, Pfizer, Logica, Indra, Grandvision, Jafep, Euler Hermes, Cosec, Pestana Group Hotels, Tivoli Hotels & Resorts, Millennium Bank, Julius Baer, SGG, Henkel, Abencys, Broadbill, Volkswagen Group, McDonald’s, MiTek, United Steel Products, Base Group, UnitedHealth group, Inapa, Vodafone, IDC, Merck, BPI Bank, Milestone, Fijowave, Foxpak, ND Sports, LLR-G5, Horan, Prodieco, Dennison, Grid Finance, Bluemetrix, European Federation of Pharmaceutical Industries and Associations, Microsoft, etc.

6. His hobbies are History (wrote several books on the lessons of military campaigns for management) and football (degree as a professional coach). He speaks and writes (by alphabetical order) English, French, German, Portuguese and Spanish. He lives between Lisbon and Rio de Janeiro. And the office, Vasconcellos e Sá Associates (www.vasconcellosesa.com), provides support for research and other activities.


For more information on the books and conferences by Professor Jorge Sá please check our website at: www.vasconcellosesa.com or contact us at associates@vasconcellosesa.com .

– Peter Drucker expert

– Speaker on Peter Drucker

– Portuguese speaker for events

– Events in Portugal speakers

– Best Portuguese speakers