One reason this hushed-up history matters is that even today economic “rationality” and plunder often remain partners in crime.
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Among the pandemic’s many lessons, however, is that greed can easily work against the common good.
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Editor’s Note: In an effort to center New Economic Thinking in the discussion of the COVID-19 crisis, we’ve curated a list of Evonomics articles relevant to this moment—including this one. Check out the full list here. […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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Editor’s Note: In an effort to center New Economic Thinking in the discussion of the COVID-19 crisis, we’ve curated a list of Evonomics articles relevant to this moment—including this one. Check out the full list here. […]
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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 […]
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Editor’s Note: In an effort to center New Economic Thinking in the discussion of the COVID-19 crisis, we’ve curated a list of Evonomics articles relevant to this moment—including this one. Check out the full list here. […]
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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. […]
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