Download or read book The Evolutionary Origins of Markets written by Rojhat Avşar and published by Routledge. This book was released on 2019-11-04 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our elaborate market exchange system owes its existence not to our calculating brain or insatiable self-centeredness, but rather to our sophisticated and nuanced human sociality and to the inherent rationality built into our emotions. The modern economic system is helped a lot more than hindered by our innate social instincts that support our remarkable capacity for building formal and informal institutions. The book integrates the growing body of experimental evidence on human nature scattered across a variety of disciplines from experimental economics to social neuroscience into a coherent and original narrative about the extent to which market (or impersonal exchange) relations are reflective of the basic human sociality that was originally adapted to a more tribal existence. An accessible resource, this book will appeal to students of all areas of economics, including Behavioral Economics and Neuro-Economics, Microeconomics, and Political Economy.
Download or read book Morals and Markets written by D. Friedman and published by Springer. This book was released on 2008-09-15 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, economist and evolutionary game theorist Daniel Freidman demonstrates that our moral codes and our market systems, while often in conflict, are really devices evolved to achieve similar ends, and that society functions best when morals and markets are in balance with each other.
Download or read book Reinventing the Bazaar A Natural History of Markets written by John McMillan and published by W. W. Norton & Company. This book was released on 2003-10-28 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: McMillan takes readers on a lively tour, from the wild swings of the stock market to the online auctions of eBay to the unexpected twists of the world's post-communist economies.
Download or read book Adaptive Markets written by Andrew W. Lo and published by Princeton University Press. This book was released on 2019-05-14 with total page 503 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new, evolutionary explanation of markets and investor behavior Half of all Americans have money in the stock market, yet economists can’t agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe. The debate is one of the biggest in economics, and the value or futility of investment management and financial regulation hangs on the answer. In this groundbreaking book, Andrew Lo transforms the debate with a powerful new framework in which rationality and irrationality coexist—the Adaptive Markets Hypothesis. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency is incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo’s new paradigm explains how financial evolution shapes behavior and markets at the speed of thought—a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation. An ambitious new answer to fundamental questions about economics and investing, Adaptive Markets is essential reading for anyone who wants to understand how markets really work.
Download or read book The Origin of Wealth written by Eric D. Beinhocker and published by Harvard Business Press. This book was released on 2006 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt: Beinhocker has written this work in order to introduce a broad audience to what he believes is a revolutionary new paradigm in economics and its implications for our understanding of the creation of wealth. He describes how the growing field of complexity theory allows for evolutionary understanding of wealth creation, in which business designs co-evolve with the evolution of technologies and organizational innovations. In addition to giving his audience a tour of this field of complexity economics, he discusses its implications for real-world issues of business.
Download or read book Hayek and the Evolution of Capitalism written by Naomi Beck and published by University of Chicago Press. This book was released on 2018-06-21 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few economists can claim the influence—or fame—of F. A. Hayek. Winner of the Nobel Prize, Hayek was one of the most consequential thinkers of the twentieth century, his views on the free market echoed by such major figures as Ronald Reagan and Margaret Thatcher. Yet even among those who study his work in depth, few have looked closely at his use of ideas from evolutionary science to advance his vision of markets and society. With this book Naomi Beck offers the first full-length engagement with Hayek’s thought from this perspective. Hayek argued that the capitalism we see in advanced civilizations is an unintended consequence of group selection—groups that adopted free market behavior expanded more successfully than others. But this attempt at a scientific grounding for Hayek’s principles, Beck shows, fails to hold water, plagued by incoherencies, misinterpretations of the underlying science, and lack of evidence. As crises around the globe lead to reconsiderations of the place of capitalism, Beck’s excavation of this little-known strand of Hayek’s thought—and its failure—is timely and instructive.
Download or read book Our Political Nature written by Avi Tuschman and published by . This book was released on 2013 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: By blending serious research with relevant contemporary examples, Our Political Nature casts important light onto the ideological clashes that so dangerously divide and imperil our world today. It shows how political orientations arise from three clusters of measurable personality traits that entail opposing attitudes toward tribalism, inequality, and differing perceptions of human nature. Together, these traits are by far the most powerful cause of left-right voting, even leading people to regularly vote against their economic interests. Our political personalities also influence our likely choice of a mate, and shape society's larger reproductive patterns. This book tells the evolutionary stories of these crucial personality traits, which stem from epic biological conflicts. Based on dozens of exciting new insights from primatology, genetics, neuroscience, and anthropology, this groundbreaking work brings core concepts to life through current news stories and personalities.
Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.
Download or read book Capitalism written by Bruce R. Scott and published by Springer. This book was released on 2014-10-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two systems of governance, capitalism and democracy, prevail in the world today. Operating simultaneously in partially distinct domains, these systems rely on indirect governance through regulated competition to coordinate actors; inevitably, these systems influence and transform each other. This book rejects the simple equation of capitalism with markets in favor of a three-level system, a model which recognizes that markets are administered by regulators through institutions and governed by a political authority with the power to regulate behavior, punish transgressors, and redesign institutions. This system's emergence required the sovereign to relinquish some power in order to release the energies of economic actors. Rather than spreading through an unguided natural process like trade, capitalism emerged where competitive pressures forced political authorities to take risks in order to achieve increased revenues by permitting markets for land, labor, and capital.
Download or read book Evolutionary History written by Edmund Russell and published by Cambridge University Press. This book was released on 2011-04-11 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: We tend to see history and evolution springing from separate roots, one grounded in the human world and the other in the natural world. Human beings have, however, become probably the most powerful species shaping evolution today, and human-caused evolution in other species has probably been the most important force shaping human history. This book introduces readers to evolutionary history, a new field that unites history and biology to create a fuller understanding of the past than either can produce on its own. Evolutionary history can stimulate surprising new hypotheses for any field of history and evolutionary biology. How many art historians would have guessed that sculpture encouraged the evolution of tuskless elephants? How many biologists would have predicted that human poverty would accelerate animal evolution? How many military historians would have suspected that plant evolution would convert a counter-insurgency strategy into a rebel subsidy? With examples from around the globe, this book will help readers see the broadest patterns of history and the details of their own life in a new light.
Download or read book The Origin of Wealth written by Eric D. Beinhocker and published by Harvard Business Press. This book was released on 2007-09-14 with total page 595 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over 6.4 billion people participate in a $36.5 trillion global economy, designed and overseen by no one. How did this marvel of self-organized complexity evolve? How is wealth created within this system? And how can wealth be increased for the benefit of individuals, businesses, and society? In The Origin of Wealth, Eric D. Beinhocker argues that modern science provides a radical perspective on these age-old questions, with far-reaching implications. According to Beinhocker, wealth creation is the product of a simple but profoundly powerful evolutionary formula: differentiate, select, and amplify. In this view, the economy is a "complex adaptive system" in which physical technologies, social technologies, and business designs continuously interact to create novel products, new ideas, and increasing wealth. Taking readers on an entertaining journey through economic history, from the Stone Age to modern economy, Beinhocker explores how "complexity economics" provides provocative insights on issues ranging from creating adaptive organizations to the evolutionary workings of stock markets to new perspectives on government policies. A landmark book that shatters conventional economic theory, The Origin of Wealth will rewire our thinking about how we came to be here--and where we are going.
Download or read book Darwinian Politics written by Paul H. Rubin and published by Rutgers University Press. This book was released on 2002 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: An examination of political behaviour from a modern evolutionary perspective. Paul H. Rubin discusses group or social behaviour, including: ethnic and racial conflict; altruism and co-operation; envy; political power; and the role of religion in politics.
Download or read book Second Nature written by Haim Ofek and published by Cambridge University Press. This book was released on 2001-10-25 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores how market forces and economics can help answer fundamental questions of human evolution.
Download or read book The Origins of Morality written by Dennis Krebs and published by Oxford University Press. This book was released on 2011-08 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do people behave in moral ways in some circumstances, but not in others? In order to account fully for morality, Dennis Krebs departs from traditional approaches to morality that suggest that children acquire morals through socialization, cultural indoctrination, and moral reasoning. He suggests that such approaches can be subsumed, refined, and revised gainfully within an evolutionary framework. Relying on evolutionary theory, Krebs offers an account of how notions of morality originated in the human species. He updates Darwin's early ideas about how dispositions to obey authority, to control antisocial urges, and to behave in altruistic and cooperative ways originated and evolved, then goes on to update Darwin's account of how humans acquired a moral sense.Krebs explains why the theory of evolution does not dictate that all animals are selfish and immoral by nature. On the contrary, he argues that moral behaviors and moral judgments evolved to serve certain functions. Krebs examines theory and research on the evolution of primitive forms of prosocial conduct displayed by humans and other animals, then discusses the evolution of uniquely human prosocial behaviors. He describes how a sense of morality originated during the course of human evolution through strategic social interactions among members of small groups, and how it was expanded and refined in modern societies, explaining how this sense gives rise to culturally universal and culturally relative moral norms. Krebs argues that although humans' unique cognitive abilities endow them with the capacity to engage in sophisticated forms of moral reasoning, people rarely live up their potential in their everyday lives. Four conceptions of what it means to be a moral person are identified, with the conclusion that people are naturally inclined to meet the standards of each conception under certain conditions. The key to making the world a more moral place lies in creating environments in which good guys finish first and cheaters fail to prosper.
Download or read book The Origins of Fairness written by Nicolas Baumard and published by Oxford University Press. This book was released on 2016 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Develops further John Rawls' intuition that our sense of justice is rooted in our evolutionary past and presents a new theory of morality based on evolutionary biology.
Download or read book Origins of the Modern Mind written by Merlin Donald and published by Harvard University Press. This book was released on 1993-03-15 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: This bold and brilliant book asks the ultimate question of the life sciences: How did the human mind acquire its incomparable power? In seeking the answer, Merlin Donald traces the evolution of human culture and cognition from primitive apes to artificial intelligence, presenting an enterprising and original theory of how the human mind evolved from its presymbolic form.
Download or read book Religion Explained written by Pascal Boyer and published by Basic Books. This book was released on 2007-03-21 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many of our questions about religion, says the internationally renowned anthropologist Pascal Boyer, were once mysteries, but they no longer are: we are beginning to know how to answer questions such as "Why do people have religion?" and "Why is religion the way it is?" Using findings from anthropology, cognitive science, linguistics, and evolutionary biology, Boyer shows how one of the most fascinating aspects of human consciousness is increasingly admissible to coherent, naturalistic explanation. And Man Creates God tells readers, for the first time, what religious feeling is really about, what it consists of, and how it originates. It is a beautifully written, very accessible book by an anthropologist who is highly respected on both sides of the Atlantic. As a scientific explanation for religious feeling, it is sure to arouse controversy.
