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Very few economists foresaw the great recession of 2008–2009. Why not? Economists have long assumed that human beings are “rational,” but behavioral findings about human fallibility have put a lot of pressure on that assumption. People tend to be overconfident; they display unrealistic optimism; they often deal poorly with risks; they neglect the long term (“present bias”); and they dislike losses a lot more than they like equivalent gains (“loss aversion”). And until recent years, most economists have not had much to say about the problem of inequality, which seems to be getting worse.

By emphasizing human fallibility, the group of scholars known as behavioral economists has raised a lot of doubts about this view. Their catalog of errors on the part of consumers and investors can be taken to identify a series of “behavioral market failures,” each of them calling for some kind of government response (such as information campaigns to promote healthy eating or graphic warnings to discourage smoking). But George Akerlof and Robert Shiller want to go far beyond behavioral economics, at least in its current form. They offer a much more general, and quite damning, account of why free markets and competition cause serious problems.

Douglas Van Praet argues that while decision making is governed by our emotions, brands should still provide people with a logical lifeline (but they should steer clear of research that lets the post-rationalizing tail wag the emotional dog).

One of the longest-running debates in marketing is whether to use a rational or emotional advertising approach in marketing--but cognitive science says that argument is pointless. While emotions overwhelmingly drive behavior, it is misguided to believe that thinking and feeling are somehow mutually exclusive. Emotion and logic are intertwined. Behavioral science is now telling us that we don’t really have “free will.” We have “free won’t.” We can give in to the visceral impulses that drive us or choose to apply the brakes of rational restraint. While we can’t choose our emotions because they originate unconsciously, we can choose our conscious response to our feelings. This is essentially what consciousness is--a series of critical reflections and interpretations about how we are feeling.

The answer is that whenever you have a network operating over distance, accurate timekeeping is essential for synchronisation. And the faster the speed of travel, the more accurate the timekeeping must be. Hence in the modern world, where information travels at almost the speed of light down wires or through the air, accuracy is more important than ever. What caesium has done is to raise the standards for the measurement of time exponentially.

The most interesting aspect of the hundred-million-dollar Giacometti is that it isn’t unique. “Chariot” comes from an edition of six—each of which, we can now assume, is worth roughly the same amount.

It’s entirely rational to think that value goes down as edition size goes up—that if a sculpture is in an edition of six, then it will be worth less than if it were unique or in an edition of two. But the art market is weird, and doesn’t work like that—or, at least, it doesn’t work like that anymore, since it has become an extension of the luxury-goods market. In order for an artist to have value as a brand, he has to have a certain level of recognizability—and for that he needs a critical mass of work. Artists with low levels of output (Morandi, say) generally sell for lower prices than artists with high levels of output—the prime example being Andy Warhol. The more squeegee paintings that Gerhard Richter makes, the more they’re worth. In the case of “Chariot,” the other versions of the sculpture don’t dilute the value of the art so much as ratify it.

A series of studies suggests that, while a product’s ethics may influence purchasing decisions, many shoppers choose simply not to know whether something was ethically made. That includes shoppers who care about social responsibility. And shoppers who ignore ethical matters can even develop a negative opinion about people who do express ethical concerns—which makes them even less likely to pay attention to ethical issues in the future.

“You feel badly that you were not ethical when someone else was,” Rebecca Reczek, a professor of marketing at Ohio State University and one of the study’s authors, told NPR about the results. “It’s a threat to your sense of self, to your identity. So to recover from that, you put the other person down.”

International supply chains, she points out, are notoriously opaque, and the free market doesn’t have any good way to deal with the way this system stifles information. It might be best, she says, if these matters were regulated before the products even reached consumers, taking ethical dilemmas out of the shopping equation. Of the unethical choice, like a polluting car or a shirt made with exploited labor, she suggests: “Maybe we just shouldn’t have it available.”

“It’s a parallel to what the tobacco industry did,” Mike Moore told me. “They got caught in America, they saw their market share decline, so they export it to places with even fewer regulations than we have.” He added, “You know what’s going to happen. You’re going to see lots and lots of death.” In May, several members of Congress wrote to the World Health Organization, urging it to help stop the spread of OxyContin, and mentioning the Sackler family by name. “The international health community has a rare opportunity to see the future,” they wrote. “Do not allow Purdue to walk away from the tragedy they have inflicted on countless American families simply to find new markets and new victims elsewhere.”

Henrich’s work with the ultimatum game was an example of a small but growing countertrend in the social sciences, one in which researchers look straight at the question of how deeply culture shapes human cognition. His new colleagues in the psychology department, Heine and Norenzayan, were also part of this trend. Heine focused on the different ways people in Western and Eastern cultures perceived the world, reasoned, and understood themselves in relationship to others. Norenzayan’s research focused on the ways religious belief influenced bonding and behavior. The three began to compile examples of cross-cultural research that, like Henrich’s work with the Machiguenga, challenged long-held assumptions of human psychological universality.

As Heine, Norenzayan, and Henrich furthered their search, they began to find research suggesting wide cultural differences almost everywhere they looked: in spatial reasoning, the way we infer the motivations of others, categorization, moral reasoning, the boundaries between the self and others, and other arenas. These differences, they believed, were not genetic. The distinct ways Americans and Machiguengans played the ultimatum game, for instance, wasn’t because they had differently evolved brains. Rather, Americans, without fully realizing it, were manifesting a psychological tendency shared with people in other industrialized countries that had been refined and handed down through thousands of generations in ever more complex market economies. When people are constantly doing business with strangers, it helps when they have the desire to go out of their way (with a lawsuit, a call to the Better Business Bureau, or a bad Yelp review) when they feel cheated. Because Machiguengan culture had a different history, their gut feeling about what was fair was distinctly their own. In the small-scale societies with a strong culture of gift-giving, yet another conception of fairness prevailed. There, generous financial offers were turned down because people’s minds had been shaped by a cultural norm that taught them that the acceptance of generous gifts brought burdensome obligations. Our economies hadn’t been shaped by our sense of fairness; it was the other way around.

Studies show that Western urban children grow up so closed off in man-made environments that their brains never form a deep or complex connection to the natural world. While studying children from the U.S., researchers have suggested a developmental timeline for what is called “folkbiological reasoning.” These studies posit that it is not until children are around 7 years old that they stop projecting human qualities onto animals and begin to understand that humans are one animal among many. Compared to Yucatec Maya communities in Mexico, however, Western urban children appear to be developmentally delayed in this regard. Children who grow up constantly interacting with the natural world are much less likely to anthropomorphize other living things into late childhood.

For most of the past century, drugs approved and released to market have been tested only on male patients, leading to improper dosing and unacceptable side effects for women. The important physiological differences between men and women have only recently been taken into consideration in medical research. Emergency doctor Alyson McGregor studies these differences, and in this fascinating talk she discusses the history behind how the male model became our framework for medical research and how understanding differences between men and women can lead to more effective treatments for both sexes

What attributes make for a successful trader? Is it comprehensive knowledge of an industry? The ability to read the markets? Luck?Or might it be something subtler and seemingly unrelated — namely, an awareness of one’s own heartbeat?

For decades, scientists have embarked on the long journey toward a medical breakthrough by first experimenting on laboratory animals. Mice or rats, pigs or dogs, they were usually male: Researchers avoided using female animals for fear that their reproductive cycles and hormone fluctuations would confound the results of delicately calibrated experiments.That laboratory tradition has had enormous consequences for women. Name a new drug or treatment, and odds are researchers know far more about its effect on men than on women. From sleeping pills to statins, women have been blindsided by side effects and dosage miscalculations that were not discovered until after the product hit the market.

The Nonhuman Rights Project is the only organization working toward actual LEGAL rights for members of species other than our own. Our mission is to change the common law status of at least some nonhuman animals from mere “things,” which lack the capacity to possess any legal right, to “persons,” who possess such fundamental rights as bodily integrity and bodily liberty, and those other legal rights to which evolving standards of morality, scientific discovery, and human experience entitle them. Our first cases were filed in 2013.

hortly before the dreadful crash of Germanwings Flight 9525, I happened to be reading part of “The Second Machine Age,” a book by two academics at M.I.T., Erik Brynjolfsson and Andrew McAfee, about the coming automation of many professions previously thought of as impervious to technological change, such as those of drivers, doctors, market researchers, and soldiers. With the advances being made in robotics, data analysis, and artificial intelligence, Brynjolfsson and McAfee argue, we are on the cusp of a third industrial revolution.

It’s a common and easy enough distinction, this separation of books into those we read because we want to and those we read because we have to, and it serves as a useful marketing trope for publishers, especially when they are trying to get readers to take this book rather than that one to the beach. But it’s a flawed and pernicious division.

But there are pleasures to be had from books beyond being lightly entertained. There is the pleasure of being challenged; the pleasure of feeling one’s range and capacities expanding; the pleasure of entering into an unfamiliar world, and being led into empathy with a consciousness very different from one’s own; the pleasure of knowing what others have already thought it worth knowing, and entering a larger conversation.