Traditional Economics Failed. Here's a New Blueprint. [New? Hardly.]

Where have you heard all of this before? I wrote all of it years ago. I took it from the teachings of Jesus Christ and my life experiences in light of those teachings.

Tom1

Tom Usher

Conventional wisdom conflates self-interest and selfishness. It makes sense to be self-interested in the long run. It does not make sense to be reflexively selfish in every transaction. And that, unfortunately, is what market fundamentalism and libertarian politics promote: a brand of selfishness that is profoundly against our actual interest.

A fundamental assumption of traditional economics is that competitiveness creates prosperity. This view, descended from a misreading of Adam Smith and Charles Darwin, weds the invisible hand of the market to the natural selection of nature. It justifies atomistic self-seeking. A clearer understanding of how evolutionary forces work in complex adaptive human society shows that cooperation is the true foundation of prosperity (as does a full reading Adam Smith’s lesser-known masterpiece A Theory of Moral Sentiments). Competition properly understood—in nature or in business—is between groups of cooperators. Groups that know how to cooperate—whose members attend to social and emotional skills like empathy—defeat those that do not. That’s because only cooperation can create symbiotic, nonzero outcomes. And those nonzero outcomes, borne and propelled by ever-increasing trust and cooperation, create a feedback loop of ever-increasing economic growth and social health.

... Today, emerging from our knowledge of emergence, complexity, and innate human behavior, a different story about self-interest is taking shape, and it sounds more like this:
-What goes around comes around.
-The better you do, the better I do.
-It’s survival of the smartest—only the cooperative survive.
-Teamwork wins.
-There’s no such thing as a self-made person.
-All for one, one for all.

In a sense, the latest wave of scientific understanding merely confirms what we, in our bones, know to be true: that no one is an island; and that someone who thinks he can take for himself, everyone else be damned, causes a society to become too sick to sustain anyone. ... True self-interest is mutual interest.

Source: Traditional Economics Failed. Here's a New Blueprint. - Evonomics

Anyway, I'm glad it's getting some mainstream attention, finally. Unfortunately, the authors appear to have not made the connection with Jesus. If they read Jesus in light of all of their Darwinian economics, maybe they'll see it. It would be good. However, maybe it's the last thing they want to see.

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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