Discover Your Inner Economist & Mind of the Market

A couple of CATO events that struck a cord with me lately.

Tyler Cowen discussed his new Book Discover your Inner Economist in a recent CATO event. I haven't read the book, but I found the event discussion quite engaging. The objections that I've had to beancounters for all of my life were touched on numerous times. They miss the portions of human interaction that can't be quantified with numbers in a ledger, and consequently make wrong decisions when it comes to directing business expenses.

He's in a CATO weekly video here discussing incentives within a family setting:


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Then there's Micheal Shermer's CATO event where he is discussing his new book The Mind of the Market: Compassionate Apes, Competitive Humans, and Other Tales from Evolutionary Economics. I didn't find his presentation as compelling, but he presented several observations that I found thought provoking.

[My major beef with Shermer is a common problem that I've observed over time. He mistakenly uses the word 'Altruism' when he means 'charity' ("reciprocal altruism" should be "reciprocal charity"; as in a transaction where there is no profit outside the charitable benefit. Altruism is not charity]

Here's the CATO video With Shermer:


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They're both on CATO daily podcasts as well.

This discussion is related to the discussion of health care and private markets, believe it or not. The average American is letting his desire for security override his common sense on this (and other) issues. Just figured I'd point out some resources for those who can't wrap their heads around the idea of free markets.

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