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« This title sets a new standard for weak endorsements |
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If even half of this is true, it's pretty amazing.
But it's well-known that pride goeth before a fall.
UPDATE: Distinguished economist William Easterly writes that, yes, it's pretty much true.
Posted by Craig on 05:00:00 AM in Economics
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People respond to incentives, yes, even in Africa. When you give stuff away, they'll change their behavior. Duh.
Joe R. |
October 03, 2013 at 06:00 AM
The difference between the way people really behave and the way some would like them to behave couldn't be shown more clearly.
October 03, 2013 at 08:34 AM
I am always surprised at what many people draw from the study of economics. From my study of economics, I found myself humbled. Of all the things on earth, about only humans, I know almost nothing. I know the names of a few hundred people. I've read a couple thousand books. I know a lot about US history. But compared to the body of knowledge that accumulates when considering all 7 billion humans, even Jeff Sachs's knowledge represents pretty much no knowledge whatsoever. This type of humility can be summed up in Hayek's The Use of Knowledge in Society.
From my study of economics, I've learned that it is folly and hubris to think you know best how to organize other people's lives. From my study of statistics, I've learned a deep skepticism towards people's claims of knowledge and understanding.
October 03, 2013 at 09:49 AM
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