Tuesday, November 4, 2008

Books just in

A Theory of Justice by John Rawls and Predictably Irrational by Dan Ariely.

Armchair Economist mentioned Rawls in an essay concerned with how to decide what is fair for a group of people who may not agree. Simple democratic majority rule is not a sufficient system, because it's entirely possible for the majority to decide to plunder, kill or enslave a minority. For instance, in 406BC the Athenians won a naval battle but were not able to retrieve the bodies of their casualties; the city voted to execute the victorious admirals. Rawls' book is described as providing an alternative system of justice in the social contract tradition.

The Ariely book was on the same library shelf. One of the assumptions of economics is that people rationally pursue their best interest; this book promises to examine where we tend to be irrational, and how we can use that knowledge to make better decisions.

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