Monday, February 1, 2010

Alex T Gets It

The title is Do Animals have Animal Spirits and here is the conclusion:
Could a natural system provide a model for business cycle behavior? It would be odd if only people had animal spirits. Biology and economics have much to offer one another.

The intersection of economics and - I would use ecology instead of biology, mostly because I think it's important that they have the same prefix - is a place lots of people, myself included, should spend more time.

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Compared with the totality of knowledge which is continually utilized in the evolution of a dynamic civilization, the difference between the knowledge that the wisest and that which the most ignorant individual can deliberately employ is comparatively insignificant. ~Fredrich Hayek in The Constitution of Liberty