“We do not always act the way economists think we should, mainly because we're both less selfish and less rational than economists think we are. Economists are being indoctrinated into a cardboard version of human nature, which they hold true to such a degree that their own behavior has begun to resemble it.”

— Frans de Waal

"Our Inner Ape: A Leading Primatologist Explains Why We Are Who We Are" (2005), p. 243
Context: In 1879, American economist Francis Walker tried to explain why members of his profession were in such "bad odor amongst real people". He blamed it on their inability to understand why human behavior fails to comply with economic theory. We do not always act the way economists think we should, mainly because we're both less selfish and less rational than economists think we are. Economists are being indoctrinated into a cardboard version of human nature, which they hold true to such a degree that their own behavior has begun to resemble it. Psychological tests have shown that economics majors are more egoistic than the average college student. Exposure in class after class to the capitalist self-interest model apparently kills off whatever prosocial tendencies these students have to begin with. They give up trusting others, and conversely others give up trusting them. Hence the bad odor.

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Frans de Waal 17

Dutch primatologist and ethologist 1948

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“I think I’m starting to resolve a puzzle that’s been bugging me for awhile.
Pop economists (or, at least, pop micro-economists) are often making one of two arguments:1. People are rational and respond to incentives. Behavior that looks irrational is actually completely rational once you think like an economist.
2. People are irrational and they need economists, with their open minds, to show them how to be rational and efficient.
Argument 1 is associated with “why do they do that?” sorts of puzzles. Why do they charge so much for candy at the movie theater, why are airline ticket prices such a mess, why are people drug addicts, etc. The usual answer is that there’s some rational reason for what seems like silly or self-destructive behavior.
Argument 2 is associated with “we can do better” claims such as why we should fire 80% of public-schools teachers or Moneyball-style stories about how some clever entrepreneur has made a zillion dollars by exploiting some inefficiency in the market.
The trick is knowing whether you’re gonna get 1 or 2 above. They’re complete opposites!”

Andrew Gelman (1965) American mathematician

“One of the easiest ways to differentiate an economist from almost anyone else in society” http://andrewgelman.com/2011/07/19/one_of_the_easi/ (19 July 2011)

“I’m not saying that arguments based on rationality are necessarily wrong in particular cases. (I can’t very well say that, given that I wrote an article on why it can be rational to vote.) I’m just trying to understand how pop-economics can so rapidly swing back and forth between opposing positions. And I think it’s coming from the comforting presence of rationality and efficiency in both formulations. It’s ok to distinguish economists from ordinary people (economists are rational and think the unthinkable, ordinary people don’t) and it’s also ok to distinguish economists from other social scientists (economists think ordinary people are rational, other social scientists believe in “culture”). You just have to be careful not to make both arguments in the same paragraph.”

Andrew Gelman (1965) American mathematician

“One of the easiest ways to differentiate an economist from almost anyone else in society” http://andrewgelman.com/2011/07/19/one_of_the_easi/ (19 July 2011)

“The modern economist … is used to measuring the “standard of living” by the amount of annual consumption, assuming all the time that a man who consumes more is “better off” than a man who consumes less. A Buddhist economist would consider this approach excessively irrational: since consumption is merely a means to human well-being, the aim should be to obtain the maximum of well-being with the minimum of consumption.”

E. F. Schumacher (1911–1977) British economist

Buddhist Economics

“Everybody knows that we like those who resemble us, those who think and feel as we do. But the opposite is no less true. It very often happens that we feel kindly towards those who do not resemble us, precisely because of this lack of resemblance.”

Émile Durkheim (1858–1917) French sociologist (1858-1917)

Source: The Division of Labor in Society (1893), p. 54

“I think Marshall was a great economist, but he was a potentially much greater economist than he actually was. It was not that he was lazy, but his health was not good, and he worked in miniature.”

Paul A. Samuelson (1915–2009) American economist

Kotaro Suzumura, An interview with Paul Samuelson: welfare economics,“old” and “new”, and social choice theory (2005)
New millennium

“A distinguished economist, on being asked to define the subject matter of his science, once replied, "Economics is what economists do."”

Kenneth E. Boulding (1910–1993) British-American economist

Source: 1940s, Economic Analysis, 1941, p. 3

“We need to abandon the economist's notion of the economy as a machine, with its attendant concept of equilibrium. A more helpful way of thinking about the economy is to imagine it as a living organism.”

Paul Ormerod book The Death of Economics

Part II, Chapter 7, Attractor Points, p. 151
The Death of Economics (1994)

“The discovery of the natural biological work democracy in international human intercourse is the answer to fascism. This will be no less true even if not one of the living sex-economists, orgone biophysicists or work democrats should live to see its general functioning and its victory over the irrationalism in social life.”

Wilhelm Reich book The Mass Psychology of Fascism

Preface to the Third Edition (August 1942)
The Mass Psychology of Fascism (1933)
Context: It is obvious that the fascist mass pestilence, with its background of thousands of years, cannot be mastered with social measures corresponding to the past three hundred years.
The discovery of the natural biological work democracy in international human intercourse is the answer to fascism. This will be no less true even if not one of the living sex-economists, orgone biophysicists or work democrats should live to see its general functioning and its victory over the irrationalism in social life.

“It is not enough for the economist in a free society to be a good economic craftsman; he must also think and act as a citizen.”

Peter F. Drucker (1909–2005) American business consultant

Source: 1930s- 1950s, An Economist Looks At the Peace (1945)

“We're the same! Even Sonya says we are.
We've always been the same, and we're
both acting the same stupid way now! We
hold ourselves to higher standards than
everyone else.”

Richelle Mead book Last Sacrifice

Source: Last Sacrifice

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Frans de Waal 17

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