Tag Archives: morality
Everyone is supposed to benefit, right? “A rising tide lifts all boats” is the saying that comes to mind. This statement assumes that an economic recovery will benefit everyone equally. What really happens is the very wealthy benefit the most because they have much more money invested in the economy. But, shouldn’t there also be […]
“What is a Moral Hazard? To economists, it is a state that exists when people tend to take more risks knowing that someone else will bear the costs.” [The Invisible Hand: Episode Five – Moral Hazard] Couldn’t one say that this is the crux of what is wrong with our fetishism with unbridled capitalism? We […]
Dan Ariely provides an example of bank doing the right thing.
I just finished listening to CBC: The Invisible Hand, Episode 10 – Homo Economicus 2.0. The gist of the podcast was discussing the idea of economists modelling human behaviour in the marketplace via a sort of wire frame person acting its own self interest dubbed “Homo Economicus“. In recent years, an attempt has been made […]