Free Market Madness: Why Human Nature is at Odds with Economics--and Why it Matters
Jan 2009 · Harvard Business Press
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Humans just aren't entirely rational creatures.
We decide to roll over and hit the snooze button instead of going to the gym. We take out home loans we can't possibly afford. And did you know that people named Paul are more likely to move to St. Paul than other cities? All too often, our subconscious causes us to act against our own self-interest.
But our free-market economy is based on the assumption that we always do act in our own self-interest. In this provocative book, physician Peter Ubel uses his understanding of psychology and behavior to show that in some cases government must regulate markets for our own health and well-being. And by understanding and controlling the factors that go into our decisions, big and small, we can all begin to stop the damage we do to our bodies, our finances, and our economy as a whole.
Ubel's vivid stories bring his message home for anyone interested in improving the way our society works.
We decide to roll over and hit the snooze button instead of going to the gym. We take out home loans we can't possibly afford. And did you know that people named Paul are more likely to move to St. Paul than other cities? All too often, our subconscious causes us to act against our own self-interest.
But our free-market economy is based on the assumption that we always do act in our own self-interest. In this provocative book, physician Peter Ubel uses his understanding of psychology and behavior to show that in some cases government must regulate markets for our own health and well-being. And by understanding and controlling the factors that go into our decisions, big and small, we can all begin to stop the damage we do to our bodies, our finances, and our economy as a whole.
Ubel's vivid stories bring his message home for anyone interested in improving the way our society works.
Humans just aren't entirely rational creatures.
We decide to roll over and hit the snooze button instead of going to the gym. We take out home loans we can't possibly afford. And did you know that people named Paul are more likely to move to St. Paul than other cities? All too often, our subcons...
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About the author
Peter A. Ubel is a physician and behavioral scientist at the University of Michigan, where he directs the Center for Behavioral and Decision Sciences in Medicine. A prominent thinker in medicine and other fields, he has written for numerous science publications as well as the Los Angeles Times, the New York Times, and the Huffington Post. His appearances on radio and television shows include Talk of the Nation, All Things Considered, and Fresh Air.
Peter A. Ubel is a physician and behavioral scientist at the University of Michigan, where he directs the Center for Behavioral and Decision Sciences in Medicine. A prominent thinker in medicine and other fields, he has written for numerous science publications as well as the Los Angeles Times, t...
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