Evonomics: The Next Evolution of Economics
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One of the biggest problems with modern economics is that it began confusing mathematical elegance with scientific truth. To make economic models mathematically tractable, economists have to simplify the real world—often dramatically. That’s not necessarily ideological. It’s what you have to do if you want to solve the equations. But eventually the math became the master rather than the servant. Assumptions about perfectly rational people, equilibrium, efficient markets, and simplified human behavior persisted partly because adding more of the messy reality of how humans and economies actually work makes the equations much harder to solve. And there was another problem: the mathematics gave economics enormous prestige. It allowed economists to imagine their discipline as something resembling classical physics—a precise science governed by elegant mathematical laws. Admitting that economies are complex, evolving systems populated by social, emotional, cooperative, competitive, power-seeking human beings would mean giving up some of that certainty. Heaven forbid! Read more: David Sloan Wilson David McWilliams Yanis Varoufakis Rory Sutherland
Evonomics: The Next Evolution of Economics12,707 次观看 • 5 天前
Neoliberalism does not mean the reduction of the state. Instead, the state is reorganized by controlling elites to protect monopoly power and capital accumulation, often producing greater inequality and insecurity. As economist Luigi Zingales says "the greatest threat to free markets is not the working class or government regulation, but powerful business incumbents who use political influence to suppress competition." Video credit: Institute for New Economic Thinking J K Galbraith
Evonomics: The Next Evolution of Economics16,789 次观看 • 22 天前
A political system corrupted by economic elites is also a failed economic system. Law professor Lessig 🇺🇦 quotes the study: “The preferences of the average American appear to have only a minuscule, near-zero, statistically insignificant impact on public policy.” Read the paper:
Evonomics: The Next Evolution of Economics10,233 次观看 • 13 天前
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