JB: You’ve called an idea that’s cherished in economics “a monumental mistake.” Specifically, the belief that Adam Smith’s “invisible hand” ensures markets self-organize for the best overall outcomes.
Biological self-organization — Darwin’s “invisible hand” — often delivers disaster. What can self-organization, or spontaneous order, in biology teach economics?
DSW: Self-organization isn’t intrinsically good (it can be functional or dysfunctional).…
Economists will never get it right until they switch their mentality from physics to evolution (see Newton pattern vs. Darwin pattern).
Big Think
Is Economics Built On A "Monumental Mistake?"
Jag Bhalla in conversation with David Sloan Wilson
Is Economics Built On A "Monumental Mistake?"
Jag Bhalla in conversation with David Sloan Wilson
13 comments:
I'd vote for "scarcity" every time as the biggest (intentional) fallacy, followed by efficiency and equilibrium. And anyway, Adam Smith's concept of the invisible hand is not the one we have in mind. Adam Smith was as smart as they come, and today's economics isn't.
Maybe the 1% are going to branch off into a new superior species...
The 99% will become like beasts of burden.... A subservient species of humanoids...
Survival of the fittest works this way, which is natural selection according to Darwin.
The 1% are simply the fittest under Darwin's theory...
When we evolved from the apes why is that a disaster?
The apes still exist no?
It wasn't a disaster for the apes they still exist...
The 99% will still exist it won't be a disaster for them... And the 1% can evolve on to become a superior new species of hominid...
Where is the problem here?
Our penchant for periodic pogroms is the problem. The 1% are conductors of a pretty mean orchestra.
That's just part of the process... There has to be some friction between the two species when the new species starts to branch off...
I'd have to think that the apes didn't like it when humans stared to dominate them when humans first branched off...
The 99% may not like it but that's the way it works, ie natural selection aka survival of the fittest...
It doesn't matter what happens to the 99% as long as the 1% moves forward on the evolutionary scale...
The 99% are not the focal point, the 1% are the focus...
MF, read
http://bleedingheartlibertarians.com/2015/05/designer-babies-should-we-design-dumber-weaker-less-healthy-babies/
I keep an eye on this blog as it has a bunch of rich reactionaries loons and what they think.
The wealthy are the biggest zero-summers on the planet.
Bob the apes probably thought that about humans too... didnt want to do their fair share of picking bananas and lice off one another all day, putting sticks down ant hills and retrieving ants to eat, etc...
Rand, I keep an eye on some of the libertarian nut jobs too (know thine enemy...)
Sounds like 'eugenics' or wtf from the past... pretty f-ed up bunch there for sure...
The 1% are simply the fittest under Darwin's theory...
That's behind the thinking of at least some at the top, as it was Nazism. I am not saying they are Nazis, but there is a connection through social Darwinism.
... why look at a humanity, and think strength and fitness equates to greed, or is no more than a unremarkable milestone of evolution, closer to a one-sided evolution of the persona (do you think it ends there), than the human heart ...??? If the power of kindness in humanity were less than the power of greed, we would have destroyed ourselves completely, a long time ago. Give it a chance; its given us opportunity, for over 200,000 years - are we listening ....!!
what is it like to be human?
It is beautiful.
As beautiful as the sunset, as beautiful as the moonrise, as
beautiful as the stars; as beautiful as a tranquil lake in the
morning. As beautiful as the falling of the rain on the desert.
The true nature of a human being is not greed. The
truest nature of a human being is to be in peace, to seek
contentment. The truest nature of a human being is to evolve, to
gain knowledge.
The finest achievement of mankind is not long bridges over
vast expanses of water. The finest achievement of mankind is
not the tallest skyscrapers. The most magnificent achievement
of mankind will be peace on earth.
One moment of clarity can destroy a lifetime of confusion…
just like that! One little candle can remove a roomful of
darkness. This is beautiful. And we, on the face of this earth,
have to leverage this law.
And this is what we all have to work on. To become active
participants in seeking peace.
[Prem Rawat, speaking at the Municipal Chamber of Saõ Paulo, April 2013]
Freedom of speech
Freedom of worship
Freedom from want
Freedom from fear
[Franklin D. Roosevelt on January 6, 1941]
Too many years
Merely existing
Merely surviving
Upon this ball of earth
Eyes flitting
Teeth gnashing
As if each meal were its last
Even in an age of plenty
Old habits die hard
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