Review of two books on “behavioral economics”

The term “behavioral economics” as commonly used is stupid, because all economics is about behavior. Phew, that’s off my chest then (and it’s not even my obervation, I think I read an essay by Robert Aumann that included it).

But call it what you may, this brand of economics is the revolution-du-jour in the field. Two books on some of its aspects get a thorough and very thoughtful review by Alan Wolfe in this article in the New Republic. It takes a while to read it, but it is packed with deep observations and well written. People like my nephew Dominick, who is very taken by Dan Ariely’s book, one of the two the review is about, are the ideal audience for the review.


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