The Demise of Economic Man

25 April, 2009

Charles DarwinIt is all too easy in the current political climate to disregard conventional economic wisdom as flawed, and seek alternative explanations for why people spurned rationality in favour of ‘excessive’ risk. However, such claims that homo economicus has no place in our calculus (and appealing to ‘animal spirits’ instead) does disservice to economics and the pursuit of truth. Rather, we must pursue proper understanding of human behaviour and what makes us tick.

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