The Logic Of Life

The Logic Of Life

4.11 - 1251 ratings - Source

Truly eye-opening . . . There is almost no situation that Harford cannot dissect with his sharp economist's tools . . . economics has never been this cool' NEW STATESMAN If humans are so clever, why do we smoke and gamble, or take drugs, or fall in love? Is this really rational behaviour? And how come your idiot boss is so overpaid? In fact, the behaviour of even the unlikeliest of individuals - prostitutes, drug addicts, racists and revolutionaries - complies with economic logic, taking into account future costs and benefits, even if we don't quite realise it. We are rational beings after all.Jensen and Murphy grumbled in the Harvard Business Review in 1990 that a#39;on average, corporate America pays its most ... A CEO who captained a firm to profit growth of 20 per cent a year would earn just 1 per cent more than one whoanbsp;...

Title:The Logic Of Life
Author:Tim Harford
Publisher:Hachette UK - 2010-09-02


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