- Economics is the study of how societies use scarce resources to produce valuable goods and services and distribute them among different individuals.
--Paul Samuelson and William Nordhaus
- Money is like muck, not good except it be spread.
- The great virtue of a free market system is that it..is the most effective system we have discovered to enable people who hate one another to deal with one another and help one another.
- Life, liberty, and property do not exist because men have made laws. On the contrary, it was the fact that life, liberty, and property existed beforehand that caused men to make laws in the first place.
- All people, however fanatical they may be in their zeal to disparage and to fight capitalism, implicitly pay homage to it by passionately clamoring for the products it turns out.
--Ludwig Von Mises
How an online experiment confirms Kahneman and Tversky's findings on the framing effect.
Jeremy Stangroom on how information might function to undermine rational autonomy.
In his paper "Which Nudges Do People Like?", Cass R. Sunstein reports on some interesting data about how the United States public views the practice of nudging.
Jeremy Stangroom looks at some new data on the ethics of nudging.
Max Burton-Chellew argues that the evidence that humans are specially altruistic does not stand up.
How and why human beings tend to go wrong.