LEADER 04924nam 2200589 450 001 9910812910103321 005 20230807204724.0 010 $a0-255-36678-7 010 $a0-255-36679-5 035 $a(CKB)2670000000590626 035 $a(EBL)1910047 035 $a(MiAaPQ)EBC1910047 035 $a(Au-PeEL)EBL1910047 035 $a(CaPaEBR)ebr11004184 035 $a(CaONFJC)MIL687719 035 $a(OCoLC)903963180 035 $a(EXLCZ)992670000000590626 100 $a20150122h20152015 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aSelfishness, greed and capitalism $edebunking myths about the free market /$fChristopher Snowdon 210 1$aLondon, England :$cThe Institute of Economic Affairs,$d2015. 210 4$dİ2015 215 $a1 online resource (233 p.) 225 1 $aHobart Paper ;$v177 300 $aDescription based upon print version of record. 311 $a0-255-36677-9 311 $a1-322-56437-X 320 $aIncludes bibliographical references. 327 $aThe author; Foreword; Preface; Summary; Figures and tables; Part 1; The Straw Men; 1Capitalism relies on greed and selfishness; Incentives and the invisible hand; _GoBack; The parable of the steel company; Is greed good?; Conclusion; 2Economists believe people are perfectly rational; Some models are useful; Rational choice and behavioural economics; Have we found angels to govern us?; Rational consumers and irrational voters; Conclusion; 3Economists think GDP is all that matters; A blind obsession?; Figure 1Public spending in 2013/14 prices (UK); No design for life; Conclusion 327 $a4Economists think we live in a free marketA free market is not anarchy; Capitalists don't like free markets; Planning, private and public; Conclusion; PART 2; The Myths; 5The rich get richer and the poor get poorer; Higher wages for all; Figure 2Disposable income (solid line) and GDP (dotted line); Figure 3Real-terms increases in disposable income by quintile; Figure 4Disposable income growth for bottom two quintiles; The progress of the poor relative to the rich; Conclusion; 6We are working ever longer hours; Figure 5Annual working hours in the developed world, 1992-2012 327 $aFigure 6UK average hours worked per weekConclusion; 7Rich countries will not benefit from more economic growth; Figure 7Global real GDP per capita; Growth scepticism; In defence of growth; Conclusion; 8There is a paradox of prosperity; Other people's consumerism; Ferraris, Porsches and other preferences; Conclusion; 9Inequality is rising in Britain; Figure 8Inequality as measured by the Gini coefficient; Figure 9Inequality as measured by the difference between the 90th and 10th percentile; Why inequality rose in the 1980s; Taxes, benefits and inequality; Inequality and recession 327 $aFigure 10Incomes of retired and non-retired householdsThe one per cent; 10Inequality is the cause of health and social problems; Selection bias; Figure 11Gross national income and self-reported happiness; Figure 12Inequality and life expectancy (Spirit Level countries); Figure 13Inequality and life expectancy (with missing countries included); Ignoring outliers; Figure 14Inequality and homicides per 100,000; Dismissal of economic growth as a factor; Figure 15Inequality and self-reported trust; Figure 16Gross national income and self-reported happiness; Ignoring history; Mechanisms 327 $aSelective criteriaFigure 17Inequality and heart disease mortality (per 100,000); Figure 18Inequality and per capita cinema attendance; Figure 19Inequality and faith in God; Figure 20Inequality and The Economist's Quality of Life index; Consensus?; The panacea temptation; Why inequality?; Conclusion; 11If you're born poor, you die poor; Absolute and relative mobility; Table 1Relative mobility in the UK; Towards a meritocracy; Conclusion; References; Blank Page; About the IEA 330 $aThis IEA publication deals head-on with a number of widely quoted myths about the market economy. In the case of the philosophical myths, such as the idea that economists believe that everybody is greedy, the author, Christopher Snowdon, carefully and entertainingly unpicks the misguided ideas that have taken hold. The author then moves on and effectively disposes of a number of economic myths using empirical evidence that is often ignored by commentators. 410 0$aHobart paper ;$v177. 606 $aEconomics$xMoral and ethical aspects 606 $aCapitalism 615 0$aEconomics$xMoral and ethical aspects. 615 0$aCapitalism. 676 $a174 700 $aSnowdon$b Christopher$01679575 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910812910103321 996 $aSelfishness, greed and capitalism$94109845 997 $aUNINA