Economics of Good and Evil: The Quest for Economic Meaning from Gilgamesh to Wall Street

Economics of Good and Evil: The Quest for Economic Meaning from Gilgamesh to Wall Street

Tomas Sedlacek


Tomas Sedlacek has shaken the learn of economics as few ever have. Named one of many "Young weapons" and one of many "five scorching minds in economics" by means of the Yale fiscal evaluate, he serves at the nationwide fiscal Council in Prague, the place his provocative writing has completed bestseller prestige. How has he performed it? via arguing an easy, nearly heretical proposition: economics is eventually approximately stable and evil.

In The Economics of fine and Evil, Sedlacek greatly rethinks his box, hard our assumptions concerning the international. Economics is touted as a technology, a value-free mathematical inquiry, he writes, yet it truly is really a cultural phenomenon, a fabricated from our civilization. it all started inside philosophy--Adam Smith himself not just wrote The Wealth of countries, but in addition the speculation of ethical Sentiments--and economics, as Sedlacek indicates, is woven out of historical past, delusion, faith, and ethics. "Even the main refined mathematical model," Sedlacek writes, "is, de facto, a narrative, a parable, our attempt to (rationally) seize the area round us." Economics not just describes the realm, yet establishes normative criteria, choosing excellent stipulations. technological know-how, he claims, is a method of ideals to which we're devoted. to know the ideals underlying economics, he breaks out of the field's confines with a journey de strength exploration of financial pondering, greatly outlined, over the millennia. He levels from the epic of Gilgamesh and the previous testomony to the emergence of Christianity, from Descartes and Adam Smith to the consumerism in struggle membership. all through, he asks looking meta-economic questions: what's the that means and the purpose of economics? do we do ethically all that we will do technically? Does it pay to be good?

Placing the knowledge of philosophers and poets over strict mathematical types of human habit, Sedlacek's groundbreaking paintings gives you to alter the way in which we calculate monetary value.

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