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Sulla domanda di economia irrazionale: Naomi Klein vs. Milton Friedman
[On the Demand of Irrational Economics: Naomi Klein vs. Milton Friedman]

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Author Info
Filoso, Valerio

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Abstract

The persistence of demand for economic irrationality, as expressed by the big success gained by the literature on no-globalism, is an empirical puzzle and the recent book by Naomi Klein The Shock Doctrine (2007) is a rampant example. An explanation for this anomaly is provided by the theory of rational irrationality (Caplan, 2007). While in the field of natural sciences confutation of wrong theories sets them apart forever, in the field of economics rebutted theories can still have an appeal on nonprofessional readers, even though the underlying theory has already been proved wrong. This is due to the low private cost of economic opinion and the big gain derived from the illusion of grasping complex economic phenomena.

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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 9452.

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Date of creation: 2008
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Handle: RePEc:pra:mprapa:9452

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Related research
Keywords: Economic Irrationality; Political Preferences; Antiglobalism;

Find related papers by JEL classification:
A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior
A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists

References listed on IDEAS
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  1. Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March. [Downloadable!] (restricted)
  2. Caplan, Bryan, 2001. "Rational Ignorance versus Rational Irrationality," Kyklos, Blackwell Publishing, vol. 54(1), pages 3-26.
  3. Caplan, Bryan, 2001. " Rational Irrationality and the Microfoundations of Political Failure," Public Choice, Springer, vol. 107(3-4), pages 311-31, June. [Downloadable!] (restricted)
  4. Gilles Saint-Paul, 2000. "The "New Political Economy": Recent Books by Allen Drazen and by Torsten Persson and Guido Tabellini," Journal of Economic Literature, American Economic Association, vol. 38(4), pages 915-925, December. [Downloadable!] (restricted)
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