Economists often reduce complex motivations to simple functions such as profit maximization. Writing in The Economist, Buttonwood ably criticizes such simplifications. Buttonwood is too quick, however, to conclude that simplification falsifies. For example, Buttonwood argues: If there is a shortage of blood, making payments to blood donors might seem a brilliant idea. But studies show that most donors are motivated [...]
Authors
- Published in
- United States of America
- Rights
- © Alex Tabarrok
