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The Darwin Economy: Liberty, Competition, and the Common Good Hardcover – 4 Sep 2011

4.5 out of 5 stars 8 customer reviews

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Product details

  • Hardcover: 240 pages
  • Publisher: Princeton University Press (4 Sept. 2011)
  • Language: English
  • ISBN-10: 0691153191
  • ISBN-13: 978-0691153193
  • Product Dimensions: 23.7 x 16.4 x 2.1 cm
  • Average Customer Review: 4.5 out of 5 stars  See all reviews (8 customer reviews)
  • Amazon Bestsellers Rank: 764,935 in Books (See Top 100 in Books)
  • See Complete Table of Contents

Product Description

Review


Winner of the 2012 Bronze Medal Book Award in the Economics category, Axiom Business



Finalist for the 2011 Book of the Year Award in Business & Economics, ForeWord Reviews



"[Frank's] arguments are carefully crafted and artfully presented to make the case that since we're in the business of designing society from top down anyway we might as well go whole hog and do it right."--Michael Shermer, Journal of Bioeconomics



"Important."--Nicholas D. Kristof, New York Times



"Robert Frank's The Darwin Economy . . . provide(s) much-needed information and analysis to explain why so much of the nation's money is flowing upward. Frank, an economist at Cornell, draws on social psychology to shatter many myths about competition and compensation."--Andrew Hacker, New York Review of Books



"[An] excellent new book."--Jonathan Rothwell, New Republic's The Avenue blog


"The premise of economist Adam Smith's 'invisible hand'--a tenet of market economics--is that competitive self-interest shunts benefits to the community. But that is the exception rather than the rule, argues writer Robert H. Frank. Charles Darwin's idea of natural selection is a more accurate reflection of how economic competition works . . . because individual and species benefits do not always coincide. Highlighting reasons for market failure and the need to cut waste, Frank argues that we can domesticate our wild economy by taxing higher-end spending and harmful industrial emissions."--Nature



"[P]rovocative. . . . Frank is an economist for the rest of us. . . . [T]he Darwin Economy . . . focus[es] on one paradox of economic life: behavior which makes sense for a particular individual can harm the community as a whole."--Chrystia Freeland, Reuters



"Frank's worthy and unfashionable aim is to argue the economic case for some forms of government regulation, to defend taxation, and even to advocate certain forms of tax increase."--Howard Davies, Times Higher Education



"The Darwin Economy fundamentally challenges this theory of competition which, argues Frank, is a flawed way of understanding competitive forces throughout many aspects of economic life. . . . Frank adds something new to the debate. . . . [H]e offers a powerful theoretical insight into the nature of competitive economic forces and the free market. . . . [I]t is an insight we could all potentially benefit from."--Daniel Sage, LSE Politics & Policy blog


"[V]ery illuminating."--Matthew Shaffer, National Review Online's The Agenda



"Frank's argument is a strong critique of the neo-classical view of the market and unlike many liberal critiques, does not rely on arguments about market imperfections, dominant powers, information asymmetries or irrationality. . . . [T]he Darwin Economy provides an important argument that must be addressed by any libertarian."--Evolving Economics blog


"Frank's book is peppered with examples of how actions that improve the well-being of the individual harm the collectivity. . . . [B]rave and welcome."--Robert Kuttner, American Prospect



"[I]mpressive, original and thoughtful."--Tim Harford, Financial Times



"The practical implications of Frank's insight are quite broad. . . . Frank manages to write breezily and with a minimum of jargon. His book deserves wide readership among people who suspect that something has gone drastically wrong with the economy."--Charles R. Morris, Commonweal



"Applying Darwin to economics provides new ways of thinking about taxation and the role of government in a free society. It also reminds economists and bankers how much they have neglected the humble wisdom with which they must confront uncertainty."--Arab News



"Frank makes a compelling argument against the libertarian view that government should not interfere with individual liberty by forcing us to buy safety or insurance, via taxation. . . . His book is a welcome addition to a field that is in need of more economists and political theorists who challenge the status quo and explore concepts of justice in the spirit of John Rawls and Michael Sandel."--ForeWord



"[The Darwin Economy] is a smart, complex, and thoughtful book that will make many readers view the dismal science in a wholly different way."--Biz Ed magazine


"Reading this book will . . . provide a useful counterpoint to EU discussion about fiscal austerity and the importance of solidarity in the EU budget. Whether you start on the left or the right this book invites some re-thinking."--European Voice



"Frank is one of the most interesting economists regularly writing for the public. Serious scholars across the social sciences will learn a lot from this book."--Choice



"[T]he Darwin Economy is noteworthy for its very acrobatic devotion to some--any--model that would seem well positioned to supplant the invisible hand as the prime mover of economic life in market societies. Instead of simply noting the abundant empirical failures of free-market theorizing for what they are--and thereby placing the burden of accountability on the small-government apostles of deregulation--Frank opts for the centrist dodge of trimming the differences between the excesses of libertarian dogma on the one hand and the reflexes of an allegedly Naderite, intervention-happy left cadre of government bureaucrats on the other."--Chris Lehmann, Democracy: A Journal of Ideas



"[E]xcellent; clearly written, engaging, and logically argued."--Devorah Bennu, GrrlScientist blog


"Robert Frank has turned a cool, penetrating shaft of light on what are too often debates fuelled by bombast and rhetoric."--Colin Crouch, Political Quarterly



"The book is full of interesting observations, many of which I agree with. . . . The book is stimulating and worth at least a couple of hours of your attention."--Journal of Economic Literature

From the Back Cover


"I've been reading Robert Frank's books for years, and he just gets better and better. I strongly recommend The Darwin Economy: it's clear, persuasive, and cleverly entertaining, and it provides a new and original insight about a central issue in economics. Read and enjoy."--Thomas C. Schelling, Nobel Laureate in Economics


"The Darwin Economy debunks popular nostrums of both left and right, and takes particular aim at the notion that a well-functioning competitive market system will necessarily produce socially optimal results. Frank suggests novel approaches to America's problems that go well beyond the tired ideas of the present debate."--Francis Fukuyama, author of The Origins of Political Order


"Competition often serves the parts better than the whole. This is true for both species evolution and human society. Only a fool would count on the invisible hand. In his usual clearheaded and lively style, Robert Frank explains how Charles Darwin thought more deeply about these issues than most contemporary economists."--Frans de Waal, author of The Age of Empathy and Our Inner Ape


"Pointing to new ways of thinking about collective action and taxation, Robert Frank has given us a book that is as important as it is timely."--Dan Ariely, author of Predictably Irrational


"The Darwin Economy's message is in my view the only hope for a rational economic future."--William J. Baumol, past president, American Economic Association


"This lucid, deeply engaging book provides the perfect antidote to the mindless sloganeering that dominates our current discussions about the role of government in a free society."--Dani Rodrik, author of The Globalization Paradox


"Robert Frank convincingly predicts that Darwin will eventually be recognized as the true intellectual father of economics. After you read The Darwin Economy, you'll want this prediction to come true as soon as possible."--David Sloan Wilson, author of Evolution for Everyone: How Darwin's Theory Can Change the Way We Think About Our Lives


"Pondering the implications of Darwinian theory, and rejecting the received wisdom of libertarian and left-wing pundits alike, Robert Frank convincingly lays out economic policies that will benefit the rich, the poor, and the broader society."--Howard Gardner, author of Truth, Beauty, and Goodness Reframed


"Human beings cooperate. Markets help. That's Adam Smith. Human beings also compete: not just for resources, but for relative position in the mating game. That's Darwin. Add Darwin to Adam Smith, and you get Robert Frank, and a book full of dazzling insight."--Mark Kleiman, author of When Brute Force Fails


"Robert Frank is a national treasure in our discussions about public policy. He shows here that our understanding of economics needs to be informed more by a sophisticated interpretation of Charles Darwin than by a simplistic view of Adam Smith. Given the state of our politics, this latest dose of Frank advice deserves to be widely read."--Robert D. Putnam, author of Bowling Alone and American Grace


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Customer Reviews

4.5 out of 5 stars
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Top Customer Reviews

Format: Hardcover
The cover of this splendid book shows two libertarian bull elk, locked in combat, celebrating their individual freedom to do just as they please. There is no meddling third elk, itching to regulate their behaviour. On the evolutionary timescale, the species has been locked in a costly and unwinnable arms race in antler size not of its choosing, in which any relative advantage gained by one side is soon matched by the other. Individual males would prefer antlers half as huge, but lack the capacity to act collectively. Instead of antlers, we humans have social rank, expressed in countless expensive ways, from cars to coming-of-age parties. Like the elk, we get locked into escalating consumption which, at the highest level, "is almost purely positional". Unlike the elk, we can come together for the common good, and work out how best to limit harmful activities and promote personal autonomy. The solution according to Robert H. Frank is the progressive consumption tax, and he invites rational libertarians to roll up their antitax and antigovernment banners and choose taxation over heavy-handed regulation as the way to cut waste.

Just in case getting libertarians to love taxes is not ambitious enough, Frank predicts "that economists a hundred years from now will be more likely to name Charles Darwin than Adam Smith as the intellectual founder of their discipline". This will strike even staunch Darwinians as a bold claim, and yet, intellectually, Darwin is linked to Smith via Malthus, and understanding competition for resources is key to natural selection. Even more relevant, Darwin revealed "a systemic flaw in the dynamics of competition" and "the failures he identified resulted not from too little competition, but from the very logic of the process itself".
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Format: Hardcover
Frankly, I expected this book to be about (for me) incomprehensible economics and dull. Wrong on both counts, although thoughtful consideration of conflicting economic principles and contentious issues is included. In fact, Robert Frank's purpose is to explain how and why "departures from rational choice" (with and without regret) have occurred and what to do about them. He does so with a rare combination of erudition, rigor, eloquence, and wit. As he explains, "From the beginning, most of the work in behavioral economics has focused on departures with regret - those caused by cognitive errors...From the beginning, however, I've believed that much bigger losses result from departures from ration choice without regret. That's because people generally have both the desire and the ability to remedy cognitive errors unilaterally once they become aware of them [and then, hopefully, not repeat them]. In contrast, we typically lack both the means and the motive to alter behaviors we don't regret, even when those behaviors generate large social costs." That, in the proverbial nutshell, is the focus of this lively and entertaining book: An explanation of how to accommodate the wishes and behavior of self-interested individuals with the wishes and behavior of self-interested groups.

Here are three of Frank's observations that caught my eye:

"Charles Darwin was among the first to perceive the underlying problem clearly [i.e. equating Adam Smith's concept of `the invisible hand' to competition]. One of his central insights was that natural selection favors traits and behaviors primarily according to their effect on individual organisms, not larger groups. Sometimes individual and group interests coincide, he recognized, and in such cases we often get invisible hand-like results.
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Format: Hardcover Verified Purchase
This is in my opinion not R. Frank's best book. His excellent "Choosing the Right Pond", written in 1985 (25 years ago !!!) covers much of the same ground in a much better way.
The main ideas defended in the book will be uncontroversial to most educated people, but R. Frank wants his book to be an attempt to convince "libertarians", rational or not. This however is the main problem of the book : if you want to convince right-wing readers, who statistically are probably "creationists" or anti-darwinian, *uselessly* bringing Darwin in at every corner in the first third of the book guarantees the supposed target reader of the book stops reading and does not continue to the (better) later chapters. And the pity of this is, that Darwin and his ideas are *absolutely* irrelevant and are just a gimmick. The whole book could have been written with the same content and without mentioning Darwin once. The much more relevant ideas of Fred Hirsch (mentioned only once) are all that is needed.
Furthermore, while claiming to want to address and convince "libertarians", R. Frank is so patently disdainful and condescending towards them that he will lose any goodwill of them to listen.
All this while the content and the message are actually interesting and topical.
So my advice to R. Frank and his editor / publisher , if you really seriously want to influence public debate and the libertarian audience :
- find a "libertarian" co-author with the right-wing credibility but also the brains needed to agree to the actions proposed in the book (should not be so difficult)
- rewrite the book together as a non-partisan appeal
- purge all mention of Darwin and interpret the libertarian ideas as useful and logically bringing us to the same conclusion
- change the title to "how libertarian ideas can help solve our government crisis" or similar
Otherwise , you will only be preaching to the converted , which is pleasant but useless...
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