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Economics & Psychology

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Crunch Time for Food Policy

How do we feed an ever growing world population in an environment of increasing scarcity? In their book ‘Food Policy and the Environmental Credit Crunch: From Soup to Nuts’ (London: Routledge 2014), investment bankers Julie Hudson and Paul Donovan liken the current overuse of the environment to the over-borrowing that ultimately led to the credit crunch in the global financial markets in 2008/09. Yet, argues reviewer Heiko Fritz, this perspective is ultimately limiting, and says more about the mindset of those trained to look at the world’s problems through the lens of financial markets, than about the challenges of food policy under conditions of environmental degradation. This is why, ultimately, the authors converge on the misguided conclusion that, as Fritz summarizes their views, “the hunt for technical efficiency is the most pressing problem of global food production”.

Reputation and Disenchantment

In a world that is more and more connected by electronic and other social media, questions of reputation and its management become ever more important, even to individuals who previously would not have thought of themselves as being in the public limelight. A recent volume, ‘La Réputation’ (2013), edited by Gloria Origgi and published by the Centre Edgar-Morin, explores this topic from an interdisciplinary perspective. Composed of twelve articles, ranging from psychology and economics to philosophy and sociology, the volume aims at a ‘disenchantment’ of the elusive notion of reputation. As reviewer Thomas Mollanger notes, though the volume engages little with the extensive body of reputation research in the English-speaking world, it nonetheless succeeds in highlighting and analyzing the centrality of reputation to a range of social phenomena.

Can the Market Speak?

The market, we are told, has moods and desires, is ‘jittery’ and ‘sends a message’. We are told to listen and anticipate its every move, preempting adverse ‘verdicts of the market’ through shrewd political decision-making. In his short (81-page) essay, ‘Can the Market Speak?’, Campbell Jones investigates the conceptual assumptions that underlie the idea that the market has intentions, consciousness, and the ability to speak to us. Yet, argues reviewer Mark Bergfeld, by solely focussing on the personification of the markets, Jones reveals a contradiction in capital’s attempt to paint the markets as behaving rationally: The supposed rational actors inside of the markets are themselves guided by “the invisible hand of the market”. In other words, underlying the very rationality of the market one finds irrationality and superstition.

Negative Thinking as a Path to Happiness?

In his book ‘The Antidote’, Oliver Burkeman argues that ‘positive thinking’ and relentless optimism aren’t the solution to the happiness dilemma, but part of the problem, and advocates instead ‘the power of negative thinking’. But, writes reviewer Berit Brogaard, while the book offers a spirited and witty account of some of the best ways to get through periods of distress or sorrow (or sheer annoyance), in the end, what Burkeman proposes isn’t all that different from standard cognitive-behavioural therapeutic practices, which include the positive thinking methods he so strongly criticises.

What Can Be Learnt From Piracy

What drives the recent resurgence of piracy, especially in the Gulf of Aden and along other major trade routes? In a recent book, Peter T. Leeson argues that by examining the piracy that reached its peak between the end of the seventeenth and the early eighteenth century, and preyed on the major trade routes, one may hope to get a clearer understanding of modern piracy. Leeson, writes reviewer Daniele Archibugi, adopts a thoroughgoingly economic perspective, according to which pirates have historically aimed at obtaining the maximum result with the least effort and above all minimum risk. The prospect of high profits, together with strict rules for social organisation and a striking commitment to principles of equality, made piracy a lucrative and attractive profession in the arly 18th century – with one important downside: when captured, pirates would almost always be hanged.

The Possibility of Disinterested Action

Is it possible for a human being to act in a truly disinterested manner? Do disinterested actions have a psychological unity or are they the mere product of circumstances? Is disinterestedness an individual or a collective phenomenon? These are the questions that Jon Elster tackles in the first volume of a trilogy dedicated to a thorough critique of classical conceptions of Homo Economicus. But, asks reviewer Gloria Origgi in light of Elster’s taxonomy of forms of disinterestedness, if so many different motivations may underlie the phenomenon of disinterestedness, are we still talking about one and the same thing?