Musings on opinions: de gustibus non est disputandum

A well-known Latin adage reads “de gustibus non est disputandum”, roughly translated as “about tastes it should not be disputed”. In English, we usually refer to the maxim as “over tastes there is no argument”, indicating the economist’s fundamental creed that tastes and preferences may very well come from somewhere but are useless to argue … Continue reading Musings on opinions: de gustibus non est disputandum

The Factual Basis of Political Opinions

“Ideology is a menace” Paul Collier says in his forthcoming book The Future of Capitalism and I couldn’t agree more: ideology (and by extension morality) “binds and blinds”, as psychology professor Jonathan Haidt describes i. And ideology, especially utopian dreams by dedicated rulers, is what allows – indeed accounts for – the darkest episodes of … Continue reading The Factual Basis of Political Opinions

The Least Empathic Lot

On standard tests of empathy, libertarians score very low. Yet, the world’s “well-known libertarian bias” coupled with many people’s unwarranted pessimism makes us seem like starry-eyed optimists (“how could you possibly believe things will just work themselves out?!”). Under the Moral Foundations framework developed and popularized by Jonathan Haidt, he and his colleagues analyzed thousands … Continue reading The Least Empathic Lot

A Lesson in Inventing Your Own Statistics

Nothing makes me happier than pointing out when someone is wrong. I admit, that’s a pretty sad life. And for some unfathomable reason that doesn’t endear me to the person who uttered the incorrect statement – which it really should as I’m correcting some mistaken belief of theirs, assisting them on the path to truth. … Continue reading A Lesson in Inventing Your Own Statistics

You’re Not Worth My Time

In our polarized and politically intolerant times, intellectuals worry about the divisions in our societies. You might call it inequality or absence of social mobility, racism or rigid social structures but all pundits seem to agree that despite our apparent cosmopolitanism, many people’s opinions on lifestyles, politics, or economics are diverging. More so, their opinions … Continue reading You’re Not Worth My Time

Davies’ “Extreme Economies” – Part 2: Failure

In the previous part of this three-part review, I looked at Davies’ first subsection (“Survival”) where he ventured to some of the most secluded and extreme places of the world – a maximum security prison, a refugee camp, a tsunami disaster – and found thriving markets. Not in that pejorative and predatory way markets are … Continue reading Davies’ “Extreme Economies” – Part 2: Failure