Reading and writing gave me skills to create with and to act on the world... through assignments like these I was learning how to marshal evidence and frame an argument. And I was also becoming more adept at handling a sentence, folding information onto it, making a complex point without losing the reader. These skills played out again and again on different topics and in different settings, leading to the ability to write a research article, a memo advocating a course of action, a newspaper opinion piece, an essay like the present one... All of the forgoing helped me develop a sense of myself as knowledgeable and capable of using what I know. This is a lovely and powerful quality-- cognitive, emotional, and existential all in one. It has to do with identity and agency, with how we define ourselves, not only in matters academic but also in the way we interact with others and with institutions. It has to do with how we move through our economic and civic lives. Education gave me the competence and confidence to independently seek out information and make decisions, to advocate for myself and my parents and those I taught, to probe political issues, to resist simple answers to messy social problems, to assume that I could figure things out and act on what I learned. In a sense, this was the best training I could have gotten for vocation and citizenship.
Keith Hamon on 26 Mar 13Economics has a beautiful body of theory. But does it describe real markets? Doubts have come up not only in the wake of the financial crisis, since financial crashes should not occur according to the then established theories. Since ages, economic theory is based on concepts such as efficient markets and the "homo economicus", i.e. the assumption of competitively optimizing individuals and firms. It was believed that any behavior deviating from this would create disadvantages and, hence, be eliminated by natural selection. But experimental evidence from behavioral economics show that, on average, people behave more fairness-oriented and other-regarding than expected. A new theory by scientists from ETH Zurich now explains why.
