Why understanding economics is hard

Posted in Commentary at 11:32 pm by Jason G.

I just read a good article on how inter-personal relationships fall into four categories:

Communal sharing is how you treat your immediate family: All for one and one for all. Or as Marx put it: From each according to ability, to each according to need.

Equality matching, by contrast, means we all take turns. From kindergarten to the town meeting, it’s all about fair shares, reciprocity, doing your part.

Authority ranking is how tribes function, not to mention armies, corporations and governments. Know your place, obey orders, and hail to the chief.

Market pricing, of course, is the basis of economics. It’s what we do whenever we weigh costs and benefits, trade up (or down), save or invest.

– Alan Fiske via the Philadelphia Inquirer