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Vinod's Blog Random musings from a libertarian, tech geek... |
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(via Jane Galt) A great article by Arnold Kling in TCS on Economic Idiotarianism. He presents a sound, structural theory on why people get econ so wrong so often:
As Kling & Steven Pinker both argue, Market Pricing-based allocations are intuitively difficult for many to understand because evolutionary psychology equipped the brain with mental models for the first 3 transactions but not the price-based one. Consequently, if an allocation doesn't map to what a communal or equality based scheme would/should predict, many are inclined to believe that an authority based scheme is lurking the shadows & bares true responsibility for the outcome. This sheds much light into the mind of the anti-globo protestor. ![]() |
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