The Mind of the Market
(Shermer on AirTalk KPCC FM)
Larry Mantle interviews Michael Shermer about his book The Mind of the Market: Compassionate Apes, Competitive Humans, and other Tales from Evolutionary Economics.
Larry Mantle interviews Michael Shermer about his book The Mind of the Market: Compassionate Apes, Competitive Humans, and other Tales from Evolutionary Economics.
During his book tour Michael Shermer visited the offices of Reason magazine, who have recently added Reason.TV to their media package, a project helped launched by Drew Carey, who turns out to be a big fan of Skeptic magazine and all things skeptical. In this interview Reason magazine editor Nick Gillespie interviews Shermer on his new book, The Mind of the Market.
The 19th-century French economist Frederic Bastiat expressed a principle applicable in the 21st century: “Where goods do not cross frontiers, armies will.”
In my new book, The Mind of the Market, I describe in detail how in the modern world of nation states, economic sanctions are among the first steps taken by one nation against another when political diplomacy fails, as when the United States enforced them on Japan after its invasion of China in the 1930s, and these became a prelude (among other factors) to Japan’s retaliatory bombing of Pearl Harbor in 1941 and our involvement in the greatest war in history. More recently, economic sanctions were imposed by the U.S. and Japan on India following its 1998 nuclear tests, and more recently by the U.S. on Cuba, Iran, and North Korea. (continue reading…)
With the stock market off to its worst first week of the year in history, investors are scrambling to decide whether or not to get out of the market. In my new book, The Mind of the Market, I describe the problem this way: our decisions about buying or selling things we value are heavily weighted by three psychological phenomena: the endowment effect, the sunk cost fallacy, and loss aversion. Understanding these will help you decide what to do with your investments. (continue reading…)
Michael Shermer read from and talked about his new book, The Mind of the Market, at various venues during his book tour in January 2008. Shermer discussed how economic and evolutionary theory speak the same language, and how our hardwired human biology affects modern economics. READ MORE about the book
LISTEN to part 1 (audio podcast)
LISTEN to part 2 (audio podcast)
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