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Why are people loyal? How do groups form and how do they create incentives for their members to abide by group norms? Until now, economics has only been able to partially answer these questions. In this groundbreaking work, Paul Frijters presents a new unified theory of human behaviour. To do so, he incorporates comprehensive yet tractable definitions of love and power, and the dynamics of groups and networks, into the traditional mainstream economic view. The result is an enhanced view of human societies that nevertheless retains the pursuit of self-interest at its core. This book provides a digestible but comprehensive theory of our socioeconomic system, which condenses its immense complexity into simplified representations. The result both illuminates humanity's history and suggests ways forward for policies today, in areas as diverse as poverty reduction and tax compliance.
A groundbreaking work which presents a unified theory of human behaviour, grounded in economic thought.
The legendary bestseller that made millions look at the world in a radically different way returns in a new edition, now including an exclusive discussion between the authors and bestselling professor of psychology Angela Duckworth. Which is more dangerous, a gun or a swimming pool? Which should be feared more: snakes or french fries? Why do sumo wrestlers cheat? In this groundbreaking book, leading economist Steven Levitt—Professor of Economics at the University of Chicago and winner of the American Economic Association’s John Bates Clark medal for the economist under 40 who has made the greatest contribution to the discipline—reveals that the answers. Joined by acclaimed author and podcast host Stephen J. Dubner, Levitt presents a brilliant—and brilliantly entertaining—account of how incentives of the most hidden sort drive behavior in ways that turn conventional wisdom on its head.
This open access book offers a multidisciplinary dialogue on relational anthropology in contemporary economics. A particular view of the human being is often assumed in economic models, but seldom acknowledged let alone explicated. Addressing this neglected area of research in economic studies, altogether the contributors touch upon the importance and potential of virtues, the notions of freedom and self-love, the potential of simulation models, the dialectics of love, and questions of methodology in constructing a relational anthropology for contemporary economics. The overall result is a highly informative and constructive dialogue, establishing inter alia a research agenda for future collaborative and multidisciplinary study.
The winners of the Nobel Prize show how economics, when done right, can help us solve the thorniest social and political problems of our day. Figuring out how to deal with today's critical economic problems is perhaps the great challenge of our time. Much greater than space travel or perhaps even the next revolutionary medical breakthrough, what is at stake is the whole idea of the good life as we have known it. Immigration and inequality, globalization and technological disruption, slowing growth and accelerating climate change--these are sources of great anxiety across the world, from New Delhi and Dakar to Paris and Washington, DC. The resources to address these challenges are there--what we lack are ideas that will help us jump the wall of disagreement and distrust that divides us. If we succeed, history will remember our era with gratitude; if we fail, the potential losses are incalculable. In this revolutionary book, renowned MIT economists Abhijit V. Banerjee and Esther Duflo take on this challenge, building on cutting-edge research in economics explained with lucidity and grace. Original, provocative, and urgent, Good Economics for Hard Times makes a persuasive case for an intelligent interventionism and a society built on compassion and respect. It is an extraordinary achievement, one that shines a light to help us appreciate and understand our precariously balanced world.
Utilizing extensive research in economics, psychology, political science, neuroscience and evolutionary theory, Ananish Chaudhuri provides a critical perspective on the role of cognitive biases in decision-making during the Covid-19 pandemic. The extensive use of, and support for, stringent social distancing measures in particular is explored in depth.
A leading economist's exploration of what our economic arrangements might look like if we applied basic principles without ideological blinders. There is nothing wrong with economics, Dean Baker contends, but economists routinely ignore their own principles when it comes to economic policy. What would policy look like if we took basic principles of mainstream economics seriously and applied them consistently? In the debate over regulation, for example, Baker—one of the few economists who predicted the meltdown of fall 2008—points out that ideological blinders have obscured the fact there is no “free market” to protect. Modern markets are highly regulated, although intrusive regulations such as copyright and patents are rarely viewed as regulatory devices. If we admit the extent to which the economy is and will be regulated, we have many more options in designing policy and deciding who benefits from it. On health care reform, Baker complains that economists ignore another basic idea: marginal cost pricing. Unlike all other industries, medical services are priced extraordinarily high, far above the cost of production, yet that discrepancy is rarely addressed in the debate about health care reform. What if we applied marginal cost pricing—making doctors' wages competitive and charging less for prescription drugs and tests such as MRIs? Taking Economics Seriously offers an alternative Econ 101. It introduces economic principles and thinks through what we might gain if we free ourselves from ideological blinders and get back to basics in the most troubled parts of our economy.
We tend to see history and evolution springing from separate roots, one grounded in the human world and the other in the natural world. Human beings have, however, become probably the most powerful species shaping evolution today, and human-caused evolution in other species has probably been the most important force shaping human history. This book introduces readers to evolutionary history, a new field that unites history and biology to create a fuller understanding of the past than either can produce on its own. Evolutionary history can stimulate surprising new hypotheses for any field of history and evolutionary biology. How many art historians would have guessed that sculpture encouraged the evolution of tuskless elephants? How many biologists would have predicted that human poverty would accelerate animal evolution? How many military historians would have suspected that plant evolution would convert a counter-insurgency strategy into a rebel subsidy? With examples from around the globe, this book will help readers see the broadest patterns of history and the details of their own life in a new light.