On the Demand of Irrational Economics: Naomi Klein vs. Milton FriedmanIl Politico (2010)
AbstractThe persistence of demand for economic irrationality, as expressed by the big success gained by the literature on no-globalism, is an empirical puzzle and the recent book by Naomi Klein "The Shock Doctrine" (2007) is a rampant example. An explanation for this anomaly is provided by the theory of rational irrationality advanced by Bryan Caplan (Caplan, 2007). While in the field of natural sciences confutation of wrong theories sets them apart forever, in the field of economics rebutted theories can still have an appeal on nonprofessional readers, even though the underlying theory has already been proved wrong. This is due to the low private cost of economic opinion and the big gain derived from the illusion of grasping complex economic phenomena.
- Economic ignorance,
- Systematic bias,
- Cognitive distortions,
- Political economy
Citation InformationValerio Filoso. "On the Demand of Irrational Economics: Naomi Klein vs. Milton Friedman" Il Politico Vol. 223 Iss. 1 (2010)
Available at: http://works.bepress.com/valerio_filoso/8/