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This author suggests that Darwinian theory can be applied to economics. I agree, but he fails to make a proper analogy.
The author fails because of intrinsic bias or a general lack of Darwinian understanding. While there are several points that fit, many more are presented in isolation or from a socialist (equal outcome) perspective. The whole point of Darwin's theory is that species evolve over time to better compete and to reproduce based on an individuals performance. He gets that part right. The author fails to consider in his arguments that ecosystems evolve as well. They are dynamic, not static and that a prospering individual will move the entire population toward prosperity even though some will fail. In fact, it is essential for weaker individuals to fail for the entire species to advance over time. He misses this point entirely.
In the case of his rank order value assessment, he states the the higher ranking individual should pay for that rank and shift income to the lower rank individual. He argues this on the basis of fairness and desire for overall economic efficiency (read equal outcome). He uses several examples of why this should be done, ignoring entirely the benefit received by the lower rank member by association with the higher rank. He fails to consider equilibrium and routinely places his examples in lopsided stasis which ultimately leads to his argument's failure.
In short he picks portions of Darwin theory and ignores others in a failed attempt to argue for redistribution of wealth.
6 of 9 people found this review helpful
The title of this book seems to be designed to bring in an audience that establishes how Natural Selection and Economics meet and why the economy works the way it does. What I found was nothing but a propoganda book for socialism.
Every reference to economics in the first chapter is taken from one extreme to the other. "You think government controlling everyone through social engineering is bad? You must approve of murder!".
It seems to pick and chose from the edges of economics and then layers it on thick with a massive political agenda. Not a recommendation I would give for anyone who's interested in learning about economics, except maybe to see what incorrect, manipulative and skewed opinions might be brought forwards.
20 of 33 people found this review helpful