Petr Koblovsky @ harvard

The Austrian Economics Blog discusses why the capitalism has such a bad name even though “SOCI” experiment failed.

Posner prefers to avoid social life. “People don’t say interesting things,” he says. “A lot of socializing is just dull — I’d rather read a book. I have a friend, an economist who’s Swedish, and he told me that Sweden has terrible television, so people there spend their time visiting each other. But that’s worse, because when you watch television you get some information, you even get some moral instruction, you learn to be nice to single mothers or what have you, but socializing, particularly family — well, that is deadly. When you’re just talking with your friends about trivia, what’s the point?”

Here you can find short article about George A. Akerlof`s speech and its consequences in Economic theory. Unfortunately, we publish articles only in Czech 🙁 but with respective links !