In our works we frequently refer to bounded rationality and of human beings. This boundedness causes varying inefficiencies in socio-economic systems. These inefficiencies, or bugs, are not just some strange quirk in the system. These bugs often play major role in forming socio-economic systems as they are observed.
This notion is not new in economics as it has its own branch known as behavioral economics (or behavioral finance). Dan Ariely is one of economists who are interested in human brain bugs on individual and global level. In his talk, recorded for ted.com, he develops one of the aspects behind behavioral economics - human tendency to tell small lies and bypass their own moral code.