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Economics of Good and Evil: The Quest for Economic Meaning from Gilgamesh to Wall Street
by
Tomas Sedlacek has shaken the study of economics as few ever have. Named one of the "Young Guns" and one of the "five hot minds in economics" by the Yale Economic Review, he serves on the National Economic Council in Prague, where his provocative writing has achieved bestseller status. How has he done it? By arguing a simple, almost heretical proposition: economics is ulti
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Hardcover, 386 pages
Published
by oxford university press
(first published 2009)
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Start your review of Economics of Good and Evil: The Quest for Economic Meaning from Gilgamesh to Wall Street
ENGLISH
A painstakingly researched new approach to assessing and shaping economic policy with visionary ideas and an extreme end.
It should be noted in advance that, in contrast to some popular science books that are designed with a focus on easier accessibility, the book has some dry text passages. Including what stands between the histories and religious narratives, namely the interpretations and explanations.
The first two-thirds of the book are primarily modeled after the citation of a histor ...more
A painstakingly researched new approach to assessing and shaping economic policy with visionary ideas and an extreme end.
It should be noted in advance that, in contrast to some popular science books that are designed with a focus on easier accessibility, the book has some dry text passages. Including what stands between the histories and religious narratives, namely the interpretations and explanations.
The first two-thirds of the book are primarily modeled after the citation of a histor ...more
Though I didn't agree with all of his conclusions, Sedlacek's book left me with many things to consider. I do think he's correct in his main argument, that the study of economics has become too focused on econometrics to its detriment. A return to a more philosophical, ethical approach might be of use. And I also found his comments on consumer culture to be profound. Can we reach a 'bliss point' by buying things or raising our income? Or can myths and other old views of economics have something
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Short review: This is one of the best economic books I have read. It is a wide ranging book about the purpose and history of economics. The first half is about how economics have been understood by looking at ancient historical documents (Epic of Gilgamesh, Old Testament, New Testament, various Greek philosophers). Then it moves to how early economics viewed economics. The last section is about the limits of economics and a call for economics to move away from mathematics determinism and to a re
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If you want a short textbook on philosophy, this is for you. Don’t expect much economics though.
One of very few things I’ve learnt from this book is that the author is well-read. Unfortunately that doesn’t make it readable. The quotations that amaze you at first begin to feel annoying as you progress and make you think ok, we have heard this a thousand times, do you have an idea of your own? He has indeed, in the end, but nothing more than sheer common sense. Spoiler: overconsumption is bad.
In ...more
One of very few things I’ve learnt from this book is that the author is well-read. Unfortunately that doesn’t make it readable. The quotations that amaze you at first begin to feel annoying as you progress and make you think ok, we have heard this a thousand times, do you have an idea of your own? He has indeed, in the end, but nothing more than sheer common sense. Spoiler: overconsumption is bad.
In ...more
1) Economy is not a real (exact) science.
2) Money is not everything.
Wow, big deal.
Save yourself time and money and read Black Swan by Nassim Nicholas Taleb.
2) Money is not everything.
Wow, big deal.
Save yourself time and money and read Black Swan by Nassim Nicholas Taleb.
I heard Sedlacek had problems to submit his PhD thesis which he then published (reworked) in a book form.
I initially thought this is just another example how wretched current economics is, but in fact I tend to agree now - at best this belongs to the literature department.
The book is roughly split into 2 parts. The first part is a tour of western literary cannon (well small part of it - Gilgamesh, Bible, bit of jewish tradition, scholastics...) ending with Adam Smith. Sedlacek provides literary ...more
I initially thought this is just another example how wretched current economics is, but in fact I tend to agree now - at best this belongs to the literature department.
The book is roughly split into 2 parts. The first part is a tour of western literary cannon (well small part of it - Gilgamesh, Bible, bit of jewish tradition, scholastics...) ending with Adam Smith. Sedlacek provides literary ...more
Definitely an erudite book on many levels... but sort of boring in other ways. It would be perfect as a series of talks belonging to some "humanities festival" for a liberal arts college, or an undergraduate course that is aimed at giving students a chance to do close reading of major western texts focused on a single theme (economics).
Which is another way of saying that I think plenty of people will enjoy this book, but it wasn't really what I was hoping for; I ended up mostly skimming it. I do ...more
Which is another way of saying that I think plenty of people will enjoy this book, but it wasn't really what I was hoping for; I ended up mostly skimming it. I do ...more
Although the title contains the word economics, the book is more a concentrated history of philosophy, human culture, and civilisation. As the reader learns at the end of this book, Sedlacek's treatise is meant as a plea for refocusing on normative economics than the mathematics dominated positive economics of today.
Despite that the text often lacks drawing conclusions and does not explain how the risen questions and topics apply to economics.
Readers should have basic knowledge in macro economic ...more
Despite that the text often lacks drawing conclusions and does not explain how the risen questions and topics apply to economics.
Readers should have basic knowledge in macro economic ...more
The guy drives me crazy trying to persuade that gender equality is much higher at distant districts of that (quite patriarchal) country, than in capital. The best argument he uses “econometrics shows this, and you know, math doesn’t lie”. When we run down devils in details, it turned out that the guy used share if girls among higher education students as a metrics of gender equality. In distant districts higher education facilities are limited to medical and pedagogical ones, overpopulated by gi
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This is a difficult book to classify, and thus to review. It's not a book of economics, but rather about economics, particularly the modern focus on mathematics to the exclusion of ethics. It's pretty abstract and philosophical. I almost gave up a number of times in the first 150 pages, as I slogged through Sedlacek picking out and commenting on the economic bread crumbs found in the most ancient of literature, the Epic of Gilgamesh, followed by Greek thought, Stoicism, historic Christianity, an
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A very intellectual and informative Book, but his style of writing is pleasant . Sedlacek manages to explain difficult topics in comprehensive manner, so that everyone could understand it even, if one doesn't know much about economy. I particularly liked the fact that he criticized the domination of mathematics in the economy and regret the lack and disregard of other subjects like philosophy, history, ethnology, etc.
He suggest to change some of our habits (egoism, to achieve fame and profit, t ...more
He suggest to change some of our habits (egoism, to achieve fame and profit, t ...more
I found this book googling "economics of good" so I was primed to enjoy it and was in the mood. It delivered. The author meandered a bit but in the end I was left full and satisfied. Do read it. I found it free online.
everyone whit an opinion about the current economic crisis should study this and think again
You will find this book controversial at the very least. Sometimes, it’s illogical, repetitive, and purely structured.
Still, I highly recommend to read this book for its anti-mainstream spirit. The author has brought brilliant questions everyone should ask him/herself once in a while.
Still, I highly recommend to read this book for its anti-mainstream spirit. The author has brought brilliant questions everyone should ask him/herself once in a while.
I will confess that i didn't really read this from cover to cover but I enjoyed dipping in and out
Capitalism is messed up man....
Capitalism is messed up man....
Very good overview of economic history and history itself. This book bringing more questions and also giving ways where can be founded answers
This was a pretty good book but it didn't quite get to the level I was hoping. The main premise is that the field of economics has become too dependent on math and data and has become disconnected from other fields such as moral philosophy and theology. In other words, it's become to disconnected from real life. The author spends the first half of the book showing how people in the past saw economics through these very different lenses. The author then uses these sources to show how modern day e
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Economics of Good and Evil is certainly different. Despite its title, one won't find any fomulas, models, graphs or statistics inside of its covers. It discusses current (messy) state of the world economy but it doesn't offer any solutions. No easy steps to follow to become super-successful or 5 worst actions to avoid in your life if you want to become healthy and happy.
The first part argues that economics is more than just mathematics. It evolved from philosophy, ethics and other "soft" discipl ...more
The first part argues that economics is more than just mathematics. It evolved from philosophy, ethics and other "soft" discipl ...more
I bought this book when I visited Austria earlier last year, and enjoyed the read during the holidays. It's a relatively light, philosophical, and easy read (with a good intro by Vaclav), which hence makes it a good holiday read. Borderline erudite.
Basically, Sedlacek makes the case for the role of philosophy, religion, history, and ethics, and also explores the intersections of these tenets in creating/establishing stories and the role of stories behind Economics, theories, and decision making. ...more
Basically, Sedlacek makes the case for the role of philosophy, religion, history, and ethics, and also explores the intersections of these tenets in creating/establishing stories and the role of stories behind Economics, theories, and decision making. ...more
I found this the most interesting book I've read for a long time. Another reviewer called it boring - I suppose it depends on your interests but I didn't find it boring, I couldn't put it down.
First of all, let me admit that I have little to no knowledge of economic theory, historical or otherwise. I knew a brief bit about Adam Smith but that was my limit. I don't really feel able to critique the economic content other than to say that I agreed with his observations on GDP and growth capitalism ...more
First of all, let me admit that I have little to no knowledge of economic theory, historical or otherwise. I knew a brief bit about Adam Smith but that was my limit. I don't really feel able to critique the economic content other than to say that I agreed with his observations on GDP and growth capitalism ...more
Disilusioned by secondary school classes on economy and seeing the actual term thrown around into vastly different contexts by vastly different people, seemingly threading through all aspects of our civilization kind of like a religion, kind of like a superset of expert knowledge and kind of like a natural force, my longing for a high-level introduction to economic principles and their contextualization grew ever stronger, which led me to this book.
The feelings which remain with me after finishi ...more
The feelings which remain with me after finishi ...more
What is capitalism?
Pure magic. The social order where all individuals and organisations do completely selfish things (seek profits) but without their intention that turns into social benefits (GDP).
What supernatural force can provide this unbelievable transformation?
The invisible hand of market.
Who said that?
Adam Smith, of course. (If you ever visited a course in economics you have heard this "truth" at least 10 times. If you went through whole university process multiply the figure by hundred ...more
Pure magic. The social order where all individuals and organisations do completely selfish things (seek profits) but without their intention that turns into social benefits (GDP).
What supernatural force can provide this unbelievable transformation?
The invisible hand of market.
Who said that?
Adam Smith, of course. (If you ever visited a course in economics you have heard this "truth" at least 10 times. If you went through whole university process multiply the figure by hundred ...more
A fascinating book that you need a bit of knowledge in philosophy, psychology, religions and economics to fully savour it.
I was thinking it is a book mainly about economics, but I think it is more about philosophy, which is great because I like interdisciplinary topics.
The book is getting better every moment you read, so read to the end. It begins a bit slow with a journey through mythology and religions and afterwards switches to philosophy and the ending is great when all the reading you've do ...more
I was thinking it is a book mainly about economics, but I think it is more about philosophy, which is great because I like interdisciplinary topics.
The book is getting better every moment you read, so read to the end. It begins a bit slow with a journey through mythology and religions and afterwards switches to philosophy and the ending is great when all the reading you've do ...more
Professor Sedlacek sees economics as a social science and argues that economics rests on a more fundamental foundation of ethics (good and evil). He shows how this view has evolved throughout history, reaching its pinnacle with Adam Smith in his Theory of Moral Sentiments. The book is very detailed and well written, and sets a foundation for 'humanomics', the recognition that ethics and economics go hand in glove.
What a refreshing and revealing read for me, a master in Economics and MBA, vintage 1986. This is to me a new perspective to see economic theory. Now I realize with what economic ideology I have been educated. It is a bit a long read, I am sure that the author can summarize his thoughts in a more succint way.
I thought this was a very interesting book on economics. It deals more with the philosophy of economics rather than the mathmatics and it brought up some really interesting and thought provoking points.
Very interesting book. Views economics through a moral/social lens using history as the guide. Neither liberal nor conservative. Rather, profoundly rooted in the nature of human beings and are moral udnerpinnings.
A truly fantastic historic overview of economics and its ontological development. A critique on the over- accumulation of society and over - mathematization of the field.
'We have exchanged too much wisdom for exactness, too much humanity for mathematization' Sedlacek.
'We have exchanged too much wisdom for exactness, too much humanity for mathematization' Sedlacek.
One of the few books I wanted to read again right after finishing. Didn't agree with all of it but it certainly made me think.
#read26fw: number 6 for 2015
Very good book on meta-economics, as in metaphysical. Great for understanding where the field is today.
Very good book on meta-economics, as in metaphysical. Great for understanding where the field is today.
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Tomáš Sedláček is a Czech economist and university lecturer. He is the Chief Macroeconomic Strategist at ČSOB (a Czech national bank), a member of a group Narrative of Europe commissioned by Manuel Barroso and Council Member of World Economic Forum focused on New Economic Thinking. He is a former member of the National Economic Council of the Czech Republic and an economic advisor to former Presid
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“According to Plato, a hierarchy of being and a hierarchy of knowledge exist, knowledge of ideas rests at the top, while at the bottom lies knowledge of trickery, illusions, shadows dancing on cave walls. By the way, mathematical knowledge is not in the highest position; philosophical knowledge is. Mathematics can’t describe the whole truth—even if we were to describe the entire world in precise mathematical equations, we would not have full knowledge.”
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