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The Undoing Project: A Friendship That Changed the World

Listen to Michael Lewis discuss his latest book on Freakonomics Radio: “The Men Who Started a Thinking Revolution” (skip to 1:50) and on Charlie Rose (much better than the former discussion); plus some print reviews in the New York Times, The New Yorker, the FT and The Economist. Below is a draft encyclopedia entry on Daniel Kahneman (and Amos…

Foundations of Austrian Economics

H/T to Steve Horwitz who has provided the introduction to FEE’s newly released ebook of Kirzner lectures/essays from various FEE events and publications. For Kirzner and the Austrians, however, the assumption of perfect knowledge heads economists off on a trail that is an intellectual dead-end. The real world of the market is one in which knowledge…

The wrong anti poverty recipes of the left

The always challenging and informative Deirdre McCloskey one of the few taking on the tired, false and persistent inequality memes. Of course what the regressive left have done (and incoherently so) is to conflate patterns of inequality (access) with patterns of inequity (outcome). Worldwide even the income gap between rich and poor has radical [sic] declined. If you…

Deirdre McCloskey and Don Boudreaux on ‘Bourgeois Equality’

I’m a literary, quantitative, postmodern, free-market, progressive-Episcopalian, Midwestern woman from Boston who was once a man. Not ‘conservative’! I’m a Christian libertarian. That description would flummox the regressives’ crude social ontology and their perversely illiberal hierarchy of victimhood. Anyway, it’s well-worth listening to the very kind and deeply talented Deirdre McCloskey whom I had the good fortune to meet in…

Evolving Norms: Cognitive Perspectives in Economics

This book presents institutional evolution and individual choice as codependent results of behavioral patterns. Drawing on F.A. Hayek’s concepts of cognition and cultural evolution, Teraji demonstrates how the relationship between the sensory and social orders can allow economists to track social norms and their effects on the global economy. He redirects attention from the conventional…