Monday, October 21, 2013

Economics discounts the innate good in people

"The fact that you possess a sense of morality, and we do not, gives us an evolutionary advantage..."
-Man of Steel
Or does it?

Is there something bigger we want to reach for or is self-interest our basic resting pulse? 
-The Newsroom

After my Microeconomics class today, this article ("Does Studying Economics Breed Greed?"by Adam Grant) popped up on my +LinkedIn feed. The article cited studies that showed how Economics was creating students with less values and more greed. Very appropriate. And I completely agree. As interesting as Economics is, I was telling my mom earlier this school year why I think it is fundamentally flawed.

Economics virtually asserts self-interest is 100% responsible for explaining how humans act. And it promotes that sense -- that our world is better when we focus on self-interest and maximizing our own utility. It states that this allows society to be more efficient and have more of everything and more is better. In fact, throughout the years, I have been told that Economics can happen because of "greed," and that it actually makes us all better off.
Courtesy: http://blog.tifwe.org/c-s-lewis-greed-and-self-interest/
But I'd like to think that the world doesn't work that way. That there's innate good in each individual. That we can have maximized efficiency while also being moral.

I was also telling my mom the other day that society's focus on economics, the economy, pure dollar signs and percentages, instead of over morals and values, is the exact reason our world economy is where it is today. The reason that 2008, and everything afterwards, happened.

In sports, you can't win a game by merely focusing on "winning." Likewise, you can't fix the economy by only caring about the numbers. In both, it's about the underlying values, whether it's the fundamental skills and teamwork or the sense of instilling morality.

It isn't a greed-less world that we are striving for. Or even one where everyone receives the same resources. Instead, it is one where we can harness greed to truly make the world a better place. It's one where competition, cooperation, ethics, morals and openness are all promoted.

Because we don't want to end up like the people of Krypton.

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