The Social Swan

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Follow the Money

If people would strive for equality, then not so many of them would play lotteries.
Against the background of egalitarianism, each subscriber should just keep his dollar the lottery cost him, rather than accepting that it will be collected and distributed together with the whole jackpot to one single player.
A lottery is a simple escalation of the principle according to which capital gets redistributed from many small bags into one big.

Capital accumulation – the possession of more and more wealth in fewer hands – is a hot topic.

Anyone interested in public discussions about the symptoms of inequality is in good hands with literature by Thomas Piketty, Paul Krugman, Joseph Stiglitz and George Akerlof.

To those who are interested in not only symptoms but causes, I suggest my own literature.

Life of Modern People

Behind the “Social” Swan a large toolkit of easy to understand social mechanisms hides, which can be used to explore and explain the causes of most observable economic phenomena in an evolutionary frame.

About many human inclinations to particularly behave behavioral and neuro-economists elucidate, as well as so-called “evolutionary psychologists” present striking stories of club-wielding cavemen from the Stone Age to the explain it.

He who understood the interplay of emotions and cognitions once thoroughly will change his classic comprehension of emotionality and rationality. And he will lose any fear of contact with biology.

Economics in the 21st century should build on game theory, evolution, anthropology and neuroscience course.
Otherwise, it is operated as an end in itself.

Just Around the Corner

With the logic of the Social Swan among lots of other things it can be explained why speculative bubbles arise, why people become more and more immoral in globalized economic interaction, as well as why they suffer from so many “cognitive biases.”

It contains a ‘unified theory’ of behavioral economics, in which the ideas and insights of the following twenty luminaries are mainly included:

Francis GALTON (Bean Machine),
Charles DARWIN (biological evolution),
Ronald FISHER (Fisherian Runnaway),
George AKERLOF (adverse selection),
Geoffrey MILLER (proteanism),
Robin DUNBAR (Dunbars Number),
Walter MISCHEL (delayed gratification),
Ivan PAVLOV (classical conditioning),
Niccoló MACHIAVELLI (Salami Tactics),
Karl MARX (capital accumulation),
Thorstein VEBLEN (conspicuous consumption),
Herbert GINTIS (indirect reciprocity),
Davin Sloan WILSON (Multilevel Selection),
Robert TRIVERS (self deception),
Sara SOLNICK (social referencing),
Richard EASTERLIN (Easterlin Paradox),
Nassim TALEB (The Black Swan),
Thomas SCHELLING (Focal points),
Daniel KAHNEMAN (cognitive biases),
Thomas PIKETTY (wealth inequality).