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Nov 12
2009
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Well, whiles I am a beggar, I will rail
And say there is no sin but to be rich;
And being rich, my virtue then shall be
To say there is no vice but beggary
Philip the Bastard, in King John by Shakespeare
Telling how our general evaluation of the world
is influenced by our special interests (1)
And say there is no sin but to be rich;
And being rich, my virtue then shall be
To say there is no vice but beggary
Philip the Bastard, in King John by Shakespeare
Telling how our general evaluation of the world
is influenced by our special interests (1)
While examining the “Impartial spectators” one can try to see what other games are being played.
Game Theory
This is a branch of economics useful to study business behavior, concerned with representing economic interactions in a highly stylized form, with players, pay-offs and strategies.
For those esteemed readers who subscribe to “I-follow-Adam-Smith-not-Marx” (money-at-any-cost) Amartya Sen’s recently published book “The Idea of Justice” should be a must read. In this he teases out the confusions arising from the most famous and widely quoted passage from the Adam Smith’s The Wealth of Nations.
It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own self-interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages.














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