Jag Bhalla interview with Economist Robert H. Frank Fans of “let-the-market-decide” thinking face a trillion-dollar puzzle that’s deadly as well as costly. To diagnose this unhealthy situation, we’re fortunate to have Robert Frank (RF), an […]
Read the Article...
By Jag Bhalla As readers will know, I’m a fan of co-thinking, so it’s a great pleasure to start a diablog* with Rebecca Newberger Goldstein. RNG is a philosopher, novelist, certified MacArthur “genius,” winner of […]
Read the Article...
By Jag Bhalla 1. Recent Evonomics sparring (here—here) reveals paradigm-cracking logic… which Michael Shermer’s debate with Robert Frank mishandles. 2. The crux—how can individual and group incentives and goals interact? 3. One possibility is the […]
Read the Article...
By Jag Bhalla Adam Smith was no fan of greed. And Smith fans who hold selfishness a virtue, distort what he called his best work. 1. “Adam Smith was a behavioral economist,” says Richard Thaler (noted Misbehaving adder of empirical psychology to economics). 2. Smith […]
Read the Article...
By Jag Bhalla Are there key plot holes in a tale that shapes our times? 1. Economics illustrates “the pitfalls of a good story,” says science writer Philip Ball. 2. It is built on a […]
Read the Article...
By Jag Bhalla Economics is in our nature. But it is not, as most economists promote, the narrowly self-interested kind. Our paleo-economics required inalienable other-interestedness. The logic of our “natural economics” can help tame modern […]
Read the Article...
By Jag Bhalla Paleo-economics shaped our moralities. Like our languages, our moralities are evolved social-coordination “technologies.” 1. By ~ 10,000 generations ago, our survival became a team sport. Driving big game toward teammates yielded more […]
Read the Article...
By Jag Bhalla We’re letting unnatural “laws” mislead us. Markets aren’t like gravity; they’re ruled by neither laws of nature nor commandments carved in stone. Delegating our ethics to markets risks costly error. 1. A […]
Read the Article...
By Jag Bhalla This is diablog between the evolutionary biologist David Sloan Wilson (DSW) and me (JB). JB: You’ve called an idea that’s cherished in economics “a monumental mistake.” Specifically, the belief that Adam Smith’s “invisible hand” […]
Read the Article...
By Jag Bhalla Many market lovers are so bewitched, they’re blind to their beloved’s faults. Worse, they hate what their love needs to work. Seen clearly, “invisible hand” logic is incomplete and cuts both ways. […]
Read the Article...
