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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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  • Filoso, Valerio

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.

Suggested Citation

  • Filoso, Valerio, 2008. "Sulla domanda di economia irrazionale: Naomi Klein vs. Milton Friedman
    [On the Demand of Irrational Economics: Naomi Klein vs. Milton Friedman]
    ," MPRA Paper 9452, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:9452
    as

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    File URL: https://mpra.ub.uni-muenchen.de/9452/1/MPRA_paper_9452.pdf
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    References listed on IDEAS

    as
    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.
    2. Bryan Caplan, 2002. "Systematically Biased Beliefs About Economics: Robust Evidence of Judgemental Anomalies from the Survey of Americans and Economists on the Economy," Economic Journal, Royal Economic Society, vol. 112(479), pages 433-458, April.
    3. 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.
    4. Caplan, Bryan, 2001. "Rational Ignorance versus Rational Irrationality," Kyklos, Wiley Blackwell, vol. 54(1), pages 3-26.
    5. Caplan, Bryan, 2001. "Rational Irrationality and the Microfoundations of Political Failure," Public Choice, Springer, vol. 107(3-4), pages 311-331, June.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Economic Irrationality; Political Preferences; Antiglobalism;

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists

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