So the birth place of modern market fundamentalism, in the guise of “rational choice theory”, was the military think tank that gave us the disastrous arms race. Untested and theoretical, it quickly spread throughout the highest levels of government during the tenure of Robert McNamara at the Department of Defense, then whipped through the economics departments of many prominent universities, spurred the creation of public policy analysis as a “scientific” field, and undergirded today’s global institutions of economic governance.
But things are starting to change.
via www.truthout.orgCathie's Notes: Joe Brewer's article has threads of connection (via Antonio Damasio's book, Descartes Error) to my recent post on Miki Kashtan's Empathy and Good Judgment piece at Tikkun. Brewer's article takes the discussion further into the realm of behavioral economics. Interesting stuff.