Wednesday, July 28, 2004

Economics and Evolution

Paul Krugman is one of the growing number of economists who see the value of evolutionary psychology:

What Economists Can Learn From Evolutionary Theorists:
A look at a way to get beyond traditional Profit-Maximization theory into something more realistic.

Ricardo's Difficult Idea:
The title of this paper is a play on that of an admirable recent book by the philosopher Daniel Dennett, Darwin's Dangerous Idea: Evolution and the Meanings of Life (1995). Dennett's book is an examination of the reasons why so many intellectuals remain hostile to the idea of evolution through natural selection -- an idea that seems simple and compelling to those who understand it, but about which intelligent people somehow manage to get confused time and time again.

In brief, evolutionary psychology does not see humans as rational maximisers.

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