Free Market Madness: Why Human Nature is at Odds with Economics--and Why it Matters
Humans just aren't entirely rational creatures.
We decide to roll over and hit the snooze button instead of going to the gym. We take out home loans we can't possibly afford. And did you know that people named Paul are more likely to move to St. Paul than other cities? All too often, our subconscious causes us to act against our own self-interest.
But our free-market economy is based on the assumption that we always do act in our own self-interest. In this provocative book, physician Peter Ubel uses his understanding of psychology and behavior to show that in some cases government must regulate markets for our own health and well-being. And by understanding and controlling the factors that go into our decisions, big and small, we can all begin to stop the damage we do to our bodies, our finances, and our economy as a whole.
Ubel's vivid stories bring his message home for anyone interested in improving the way our society works.
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LibraryThing ReviewUser Review - jeffjardine - LibraryThing
Peter Ubel, a self-described "flaming moderate," begins the book describing some of the things free markets fail to address - redistribution to smooth out bad luck, externalities, irrational ... Read full review
Free Market Madness: Why Human Nature is at Odds with Economics--and Why it MattersUser Review - Not Available - Book Verdict
Dr. Ubel (director, Ctr. for Behavioral and Decision Sciences in Medicine, Univ. of Michigan) takes on the intersection of markets and behavioral economics in this look at why humans don't always act ... Read full review
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