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0rthodox economics says that we're supremely rational beings -- self-interested agents in a perfectly efficient market. We buy and sell because it's in our interest to buy and sell. "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard for their self-interest," wrote Adam Smith in "The Wealth of Nations" in 1776.

 
       
 

Capitalist anarchy

  • what is value?
  • what happens when people bid for money: Shubik's dollar auction.
  • manipulating value?
  • deciding not to decide
  • the value of possesion
  • how do we value?
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    see our co-operation with carnegie mellon professor of behavourial economics George Loewenstein