The Monsters, Inc. Argument for Unconditional Basic Income

Behavioral Economics: Past, Present, and Future

(July 2016)

A Theory of the Consumption Function, with and without Liquidity Constraints

This paper argues that the modern stochastic consumption model, in which impatient consumers face uninsurable labor income risk, matches Milton Friedman's (1957) original description of the Permanent Income Hypothesis much better than the perfect foresight or certainty equivalent models did. The model can explain the high marginal propensity to consume, the high discount rate on future income, and the important role for precautionary behavior that were all part of Friedman's original framework. The paper also explains the relationship of these questions to the Euler equation literature, and argues that the effects of precautionary saving and liquidity constraints are often virtually indistinguishable.

A psychologically rich life: Beyond happiness and meaning.

CMV: The labor theory of value is flawed

72 votes, 407 comments. This might be an obscure topic, however, in some—largely Marxist circles— the approach seems to motivate much of the dialogue…

The Dead Economy Theory

We can laugh at them but we have to take this seriously

Power: A Primer for Perplexed Economists

Let's Assume an Unfettered Marketplace of Ideas! Or Actually, Let's Not.

Economics for the future – Beyond the superorganism

Our environment and economy are at a crossroads. This paper attempts a cohesive narrative on how human evolved behavior, money, energy, economy and th…

Systems: How the Ultra-Wealthy Think About Money - Anil Dash

A blog about making culture. Since 1999.

Exocapitalism: economies with absolutely no limits

There is a touch of destiny with this one. We have real…

The marketplace of rationalizations

Recent work in economics has rediscovered the importance of belief-based utility for understanding human behaviour. Belief ‘choice’ is subject to an important constraint, however: people can only bring themselves to believe things for which they can find rationalizations. When preferences for similar beliefs are widespread, this constraint generates rationalization markets, social structures in which agents compete to produce rationalizations in exchange for money and social rewards. I explore the nature of such markets, I draw on political media to illustrate their characteristics and behaviour, and I highlight their implications for understanding motivated cognition and misinformation.

A Behavioral Model of Rational Choice

Abstract. Introduction, 99. — I. Some general features of rational choice, 100.— II. The essential simplifications, 103. — III. Existence and uniqueness of

The Divide — Jason Hickel

The Divide: A Brief Guide to Global Inequality and its Solutions Penguin Random House UK, 2017

Cognitive Capitalism - Public Seminar

There are broadly three ways of thinking historically about capitalism. One draws on Marx’s value theory and pretty much treats...Read More