A quote from Satoshi Kanazawa on how Economics ignore the evolved psychology of humans.
Microeconomic theory, or any other theory of human behavior which assumes that human behavior is rational and based on carefully calculated cost-benefit analysis, cannot explain van Beest and Williams’ remarkable findings that humans are happy to lose money and sad to make money.
And if you’re wondering about the title of this QotD, read the full article 😉
This goes very nicely with my recent post on human nature and how, not only is it not suitable for Capitalism, but on the contrary, the truest expression of it can only be found in Communism.
One thought on “Quote of the day: All Economists must die”
Ha! That's the same thought I have whenever I hear someone say humans are rational beings, heard especially often in economic contexts. Are they somehow cut off from the rest of the human race? *rolls eyes*
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