Ecology Matters More Than Economy
Ecology Matters More Than Economy An evolutionary perspective on modern economics. Written by Martin Å tÄ›pán. My interest as of late has been in the dubious assumptions of mainstream economics. As far as I can tell, the entire job of economists is to figure out ways to maximise some measure that is supposedly good in itself, while ignoring more fundamental human needs. It’s not that I see nothing valid in the field; it’s that practically all economists carry some ideological premises with them—almost invariably liberal, universalist and utilitarian. Even Marxism is basically just a liberal heresy that never disagreed with those premises. Here I want to address specifically how economics runs afoul of evolutionary biology. The first issue is: what is the economy actually for? Most economists believe it’s ultimately for satisfying people’s preferences. But they often treat preferences in a naïve or frankly bizarre way. Gary Becker and Kevin Murphy devised a theory of “rational add...