the official site of Michael Shermer

A film challenging evolution, by game show host
and financial analyst Ben Stein, is a case study
in antiscience propaganda

“Should I be worried about the Crips and the Bloods up here?” These were the first words out of the mouth of Ben Stein as he entered my office at Skeptic magazine, located in the racially mixed neighborhood of Altadena, Calif. I cringed and hoped that the two black women in my employ were out of earshot of what was perhaps merely Stein’s hamhanded attempt at humor before he began interviewing me for what I was told was a film on the intersection of science and religion entitled Crossroads. (continue reading…)

Emotions are as much a product of our evolutionary
heritage as they are our environmental circumstances

The next time you come face to face with a dog wagging its tail, you can make a quick determination on whether to reach out and pet it or step back in deference: check the tail-wag bias. If the wagging tail leans to the dog’s right, you’re safe; if the tail leans to the dog’s left, don’t move. (continue reading…)

Evolutionary economics explains why irrational
financial choices were once rational

Since 99 percent our evolutionary history was spent as hunter-gatherers living in small bands of a few dozen to a few hundred people, we evolved a psychology not always well equipped to reason our way around the modern world. What may seem like irrational behavior today may have actually been rational a hundred thousand years ago. Without an evolutionary perspective, the assumptions of Homo economicus — that “Economic Man” is rational, self-maximizing, and efficient in making choices — make no sense. Take economic profit versus psychological fairness as an example. (continue reading…)

The new science of evolutionary economics
offers an explanation for capitalism skepticism

In his magnum opus on the power of free markets, Human Action, the Austrian economist Ludwig von Mises noted: “The truth is that capitalism has not only multiplied population figures but at the same time improved the people’s standard of living in an unprecedented way. Neither economic thinking nor historical experience suggest that any other social system could be as beneficial to the masses as capitalism. The results speak for themselves. The market economy needs no apologists and propagandists. It can apply to itself the words of Sir Christopher Wren’s epitaph in St. Paul’s: Si monumentum requires, circumspice.” If you seek his monument, look around. (continue reading…)

Michael Shermer discusses his book The Mind of the Market as part of the Authors @ Google series.

How did we evolve from ancient hunter-gatherers to modern consumer-traders? Why are people so irrational when it comes to money and business? Dr. Michael Shermer argues that evolution provides an answer to both of these questions through the new science of evolutionary economics. Drawing on research from neuroeconomics, Shermer explores what brain scans reveal about bargaining, snap purchases, and how trust is established in business. Utilizing experiments in behavioral economics, Shermer shows why people hang on to losing stocks and failing companies, (continue reading…)