Dec 19, 2018

The hangover from imbibing Homo economicus

More subtle understandings of human behavior have bounced off the teflon coating of Econ 101 with baleful consequences:

What students are taught in their economics classes can perversely turn models and charts that are meant to approximate reality into aspirational ideals for it. Most economics majors are first introduced to Homo economicus as impressionable college freshmen and internalize its values: Studies show, for instance, that taking economics courses can make people actively more selfish.

Read more here.