Markets against Modernity: Ecological Irrationality, Public and Private (Capitalist Thought: Studies in Philosophy, Politics, and Economics)

In Markets Against Modernity, economist Ryan Murphy documents a clear continuity between the systematic errors people make in their personal lives and the gaps between public opinion and informed opinion. These errors cluster around specific divergences between how the modern world's institutions function-including global markets, pluralistic democracy, and even science itself-and how evolution trained our brains to understand the nature of economic relationships, social relationships, and humanity's relationship to the physical world. Murphy calls these systematic divergences Ecological Irrationality. Exploring them leads him to even more prickly questions-and to conclusions that may challenge the beliefs of those who understand that, for instance, modern vaccines are safe and effective. Do we actually want a less cohesive society? Is doing a task yourself financially prudent? And if we recognize an expert consensus, is there even a way to implement it and achieve the desired effects? Dedication 6 Contents 8 List of Figures, Tables, and Text Boxes 10 Preface 12 Acknowledgments 16 1 Trade is Good 18 2 “Extreme Voter Stupidity” 32 3 The Obvious and Simple System of Unnatural Liberty 44 4 Ecological Irrationality in the Wild 60 5 Bohemian Status-archy 78 6 Anarchy, State, and Dystopia 94 7 Too Much Social Capital 116 8 The Poverty of DIYism 134 9 Social Luddism 146 10 Whither Expertise? 164 Concluding Remarks 178 Appendix: Trade is Bad? 186 Bibliography 194 Index 224 About the Author 230 Economist Ryan Murphy Explains Divergences Between Popular And Informed Opinion On The Value Of The Institutions Of The Modern World, Including Globalized Markets, Science, And Pluralism. The Public Expresses Hostility For These Institutions Both In The Voting Booth And In Their Private Lives, And Even Through The Marketplace Itself-- Ryan H. Murphy. Includes Bibliographical References And Index. "Economist Ryan Murphy explains divergences between popular and informed opinion on the value of the institutions of the modern world, including globalized markets, science, and pluralism. The public expresses hostility for these institutions both in the voting booth and in their private lives, and even through the marketplace itself"-- Provided by publisher