A Discussion of Peter Foster’s Why We Bite the Invisible Hand Chapter 18 “Conclusion: Still Spinning After All These Years” I have really enjoyed this book because Foster is asking the questions I have had. Why do we bite the Invisible Hand? Why are people not more aware or concerned that…
Tag: Technology
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…
Macroeconomics
More Robots Mean More Riots?
A Discussion of “Rage Against the Machines: Labor-Saving Technology and Unrest in Industrializing England” “Machines are going to take all the jobs,” is a sentiment I hear and read often. As an economist, I know this is not true. There will be disruption. Some jobs will be lost. Some jobs…