Predictably Irrational Chapter 1 – The Truth About Relativity

Predictably Irrational by Dan Ariely is a fascinating and deeply insightful book that is a pleasure to read and full of gems. It is bursting with interesting and ground breaking experiments that completely debunk many of the assumptions of economics. It will reshape how you view economics and how consumers react in real life, as opposed to in economics textbooks. It is a book I would highly recommend and should be considered a behavioural economics classic. In fact it’s so great that I couldn’t fit all I wanted to say about it into one post (or three) so instead I will summarise my favourite chapters (which is most of them) and highlight the important points they make. What is particularly interesting is … Continue reading “Predictably Irrational Chapter 1 – The Truth About Relativity”

January 11, 2013EconomicsBehavioural Economics, Books, Chapter 1, Chapter by Chapter, Choice, decision, Economic Theory, Economics, Free Market, Neo-Classical, Predictably Irrational, Summary Leave a comment

Laissez Faire And The Irish Great Famine

Right wing libertarian politics have never really caught on in Ireland. Part of this is due to the memory of the Great Famine of 1845-8. The Famine, though caused by blight, was made worse by the prevailing conservative doctrine of laissez faire. This was the prime example of politicians believing the free market will solve everything, that it would be unethical for the government to intervene and that helping the poor would only make them lazy and dependent. This was an experiment of a world with only minimal government, of free market principles in practice, the result was so disastrous that a million people died. The normal market is governed by supply and demand. Goods are sold to whoever will … Continue reading “Laissez Faire And The Irish Great Famine”

August 25, 2012Economics1845, Economics, Gorta Mor, Great Famine, Great Hunger, History, Ireland, Laissez Faire, Neo-Classical, Politics Leave a comment