April 24, 2017

This past week marked the 200th publication anniversary of David Ricardo’s On the Principles of Political Economy and Taxation. Despite the somnambular title, this book marked the first dissemination of an idea that the mathematical economist and Nobel laureate Paul Sa...

April 14, 2017

It is obvious why specialization improves productivity for manufactured goods (even if people seem to systematically underestimate just how extensive the gains are). If it takes 18 steps to manufacture a pin (to use Adam Smith's example), you can well imagine divi...

April 12, 2017

Economists have long known that a key source of society's wealth is the division of labor. Robinson Crusoe was marvelously self-sufficient, specializing in everything and depending on no one to supply his wants. Doubtless this was a liberating experience for him. Yet,...

April 10, 2017

Since I say I am a "cognitive scientist of markets," I damned well better have an answer to what this means.

It's not quite behavioral economics, so let's use the similarities and differences as a starting point. Behavioral economics is a field that grew out of, and as...

April 7, 2017

The first book I am blogging is Adam Smith's masterpiece An Inquiry into the Nature and Causes of the Wealth of Nations (1776).

Although it is a coincidence that the book was published in 1776, there is a spiritual synchrony between the publication of this book by a Bri...

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University of Bath School of Management

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Bath BA2 7AY

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© 2018 by Sam Johnson