Part 2 of a Discussion of Peter Foster’s Why We Bite the Invisible Hand Chapter 11 “The Darwin Wars” In the second half of the chapter, Foster turns to the origin of morality and posits it is not a recent innovation but something that is central to mankind. In the…
Tag: Primitive Economy
Why We Bite the Invisible Hand
Zero Sum Bias: How Malthusian Thinking Hinders Economic Progress
Part 3 of a Discussion of Peter Foster’s Why We Bite the Invisible Hand Chapter 8 “Do-It-Yourself Economics” Last blog, I covered how Foster delved into many of the cognitive biases that interfere with our ability to understand modern economics. Now, I want to focus on one cognitive bias I…
Why We Bite the Invisible Hand
The Need to Unlearn What We “Know” about Economics
Part 2 of a Discussion of Peter Foster’s Why We Bite the Invisible Hand Chapter 8 “Do-It-Yourself Economics” Foster continues in this chapter exploring some of the apparently inborn assumptions we apply to the economy that lead to incorrect conclusions. Much like the do-it-yourself-economics (DIYE) brought up in the previous…