My economics text in college was The New World of Economics by Mckenzie & Tullock. They didn't define Economics explicitly in terms of Game Theory, but it was based on the "new work" in the 1960-70s, including Public Choice Theory.Economics can only be called a science with the fundamental underlying feature of game theory, explaining it. . . . . why economics is in a dismal state — Shawn
Can rational self-interest account for religious zealotry, patriotism or racism?The dominant theory governing the workings of the individual is called, rational-self-interest. — Shawn
Is that statement of belief a reaction to the sad state of American politics, in which top-down competitive Capitalism is winning the "game" against bottom-up Cooperative Socialism? The 18th century revolution against Monarchy allowed a few decades of Republican rule by the common people. But now it seems that the republic itself is being ruled by egotistical Oligarchs --- with their trickle-down economics --- and may be trending back towards a Monarchy, with one Oligarch to rule them all. The few decades of cooperative democracy seems to be a mere blip on the age-old historical chart of world economy, no? :smile:Anyway, I believe that cooperation leads to better results, and with the bloated concern with rational self-interest and egotism and deterrence, we are living in a fearful and less efficient state than possible. — Shawn
Is that statement of belief a reaction to the sad state of American politics, in which top-down competitive Capitalism is winning the "game" against bottom-up Cooperative Socialism? — Gnomon
I believe we are living in an age of syndicalism. You can see it with the banking sector, pharmaceutical industry, and insurance companies, alongside with their push for laws protecting their interests with special-interest groups and lobbying in congress. I actually believe this is a natural tendency of competitive markets — Shawn
I assume Syndicalism is what you think should be happening. I agree with that sentiment. But I see no evidence that it is actually happening in the US. Some American companies refer to their employees as "associates", implying that they have a stake in the profits. But, I doubt that the employees are actually unionized, or have ownership, in any practical sense.No, I think this is mistaken. I believe we are living in an age of syndicalism. — Shawn
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