Skip to main content

View Diary: Morning Feature: Animal Spirits, Part I - Irrational Economic Actors (72 comments)

Comment Preferences

  •  That's surprisingly complex. (5+ / 0-)

    The presence and enforcement of regulation is one of the conditions Akerlof and Shiller cite for whether there a culture of corruption will predominate, but it's more than that.  It also has to do with the acts and values we celebrate in contemporary stories.  If our stories celebrate individuals pursuing their own ends - e.g.: the "greed is good" stories of Randian objectivism - more people will be more likely to act as individuals and selfishly pursue their own ends, including by cheating if they can.

    Good morning! ::huggggggggggs::

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site