the official site of Michael Shermer

Would you rather earn $50,000 a year while other people make $25,000, or would you rather earn $100,000 a year while other people get $250,000? Assume for the moment that prices of goods and services will stay the same.

Surprisingly — stunningly, in fact — research shows that the majority of people select the first option; they would rather make twice as much as others even if that meant earning half as much as they could otherwise have. How irrational is that?

This result is one among thousands of experiments in behavioral economics, neuroeconomics and evolutionary economics conclusively demonstrating that we are every bit as irrational when it comes to money as we are in most other aspects of our lives. In this case, relative social ranking trumps absolute financial status. Here’s a related thought experiment. Would you rather be A or B? (continue reading…)

Evolution and economics are both examples
of a larger mysterious phenomenon

Living along the Orioco River that borders Brazil and Venezuela are the Yanomamö people, hunter-gatherers whose average annual income has been estimated at the equivalent of $90 per person per year. Living along the Hudson River that borders New York State and New Jersey are the Manhattan people, consumer- traders whose average annual income has been estimated at $36,000 per person per year. That dramatic difference of 400 times, however, pales in comparison to the differences in Stock Keeping Units (SKUs, a retail measure of the number of types of products available), which has been estimated at 300 for the Yanomamö and 10 billion for the Manhattans, a difference of 33 million times! (continue reading…)

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About the book

In Darwin’s Shadow explores the multi-faceted side of this polymathic genius, including his work in ancient history and archaeology, animal behavior, astronomy and cosmology, botany, entomology, ethnography and ethnology, evolutionary ethics, evolutionary theory, exobiology, history of science and evolutionary thought, geography and geology, linguistics, the origins of life and the plurality of worlds, paleontology, phrenology, primatology, spiritualism, systematics and taxonomy, and zoology. Shermer also delves into the many eccentric and fringe causes championed by Wallace throughout his career: anti-vaccination, conservation of the environment, crime and punishment, eugenics, labor reform, land nationalization, railroad nationalization, religion and the role of institutionalized churches, socialism, trade regulation, and women’s rights and suffrage. (continue reading…)

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How did we evolve from ancient hunter-gatherers to modern consumer-traders? Why are people so emotional and irrational when it comes to money and business decisions? Bestselling author Michael Shermer believes that evolution and evolutionary psychology provides an answer to both of these questions through the new science of evolutionary economics. (continue reading…)

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Evolution happened, and the theory describing it is one of the most well founded in all of science. Then why do half of all Americans reject it? There are religious reasons, such as the fear of atheism and the perceived loss of ultimate meaning; there are psychological reasons, such as the ego-deflating realization that we are mere animals; and there are political reasons, such as the equation of evolution with moral relativism on the right, and the connection of evolution to eugenics and social Darwinism on the left.
(continue reading…)