Home > Behavioural Economics, Market Structures > Frankly its got to be Darwin

Frankly its got to be Darwin

November 22, 2011 Leave a comment Go to comments

Here is a clip from Paul Solman’s ‘Making Sense of Financial News’ which is part of the PBS Newshour in the US. Here he interviews Professor Robert Frank (author of ‘The Economic Naturalist’) who predicts that within the next century Darwin will unseat Smith as the intellectual founder of economics. The reason being that Darwin’s understanding of competition describes economic reality far more accurately than Smith’s. The failure to recognize that we live in Darwin’s world rather than Smith’s is putting us all at risk by preventing us from seeing that competition alone will not solve our problems. Enjoy the interview at the Darwin Exhibiton – Fernbank Museum of Natural History in Atlanta.

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