Man is a rational being in pursuit of personal interests - at least that is what classical economics teaches us. But policy-makers are increasingly using our irrational tendencies to nudge us into a certain direction.
There's something deeply flawed about an economic system that measures utility but not the attachments we feel to another person, or to one's homeland.
Don't rely on economic analysis to learn about human rationality. If we want to build just and prosperous societies, we must look elsewhere for guidance.
What can patterns of cheating in online courses tell us about man's irrational inclinations?
In recent years, economic thinkers have embraced policies that "nudge" us into acting wisely. It's time for European policy-makers to catch up.
“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design”, F.A. Hayek once wrote. We would be well-served to heed his call and reinvigorate the ideology of the free market.
We tend to think of ourselves as rational actors - yet ultimately, we are very fallible creatures. We need regulation and restraint to overcome our irrational tendencies and to achieve better outcomes for ourselves and the world around us.
What decisions would we make if we deliberated carefully about public policy? Alexander Görlach sat down with Stanford's James Fishkin to discuss deliberative democracy, parliamentary discontent, and the future of the two-party system.
For many Europeans the massacre in Arizona is another evidence that political violence is spreading in the United States but this unfortunate event was the deed of a mentally ill person, not a political activist. There is no evidence of an increasing political extremism tearing America apart. Using
The US and Russia don't agree on much - but they are both keen to develop a good relationship with India. How do we know? Look at the arms trade.
More than 50 percent of the world's population now live in cities – and there is no end of urbanization in sight. Harvard economist Edward Glaeser believes urbanization to be a solution to many unanswered problems: pollution, depression and a lack of creativity. He spoke with Lars Mensel about the
Contrary to the mantras repeated by the press, HIV infections are not increasing. We need to move away from activist scare tactics and towards complex risk management strategies.
Nick Bostrom directs the Future of Humanity Institute at Oxford University. He talked with Martin Eiermann about existential risks, genetic enhancements and the importance of ethical discourses about technological progress.