Economic Psychology

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Economic Psychology

How and why markets aren't rational. Navigational tips for charting the Bermuda Triangle of human economic behavior.

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Worker Autonomy
It should come as no surprise that greater autonomy* leads to greater worker productivity and satisfaction, especially when the type of work is complex or requires more creativity. Yet, in my experience, it is something that few managers are willing to grant. In this fascinating, nuanced article, Rick Nauert PhD describes research conducted by two professors at Concordia University in Montreal, CA. Among other things, the article discusses what autonomy means in different cultures.

A must-read for anyone who cares about effective management and/or working well with people from across the globe.

* Definitions, cobbled together from various dictionaries: immunity from arbitrary exercise of authority, freedom to act independently based on one’s own judgment; the right or power to govern oneself.

Audacity Rules
Paul Krugman ++   Focus Hocus Pocus
True Dat!

Throwing Good Money After Bad
Doesn't anybody ever learn? Can a metastasized greed machine on Wall St., a "for sale to the highest bidder" Congress, and a group of flexian self-promoters in the civilian bureaucracy help Main Street? Heaven forbid. Their help will be the death of us all. This is like asking for a blood transfusion from a vampire.

Wall Street deserves none of our sympathy -- nor do the "regulators" who have let Wall Street's con artists dating back to the year dot (most notably, the Reagan Administration) -- nor do the congress people and senators who have enabled them, bailing them out with OPM (AKA 'taxpayer funds') in return for campaign contributions (contributions necessary to pay incumbent Telco kleptocrats for TV ads and robo-calls).

Money from Wall Street has blood on it. My blood. Lawmakers and their civilian lackeys, from both parties, have let them gouge away at us, despite our best efforts to keep our eyes on the prize. None of these corrupt fools have earned my trust. Au contraire --despair, disgust, and a deep sense of betrayal are the bitter seeds they have sown.

The holy book(s) say: "As ye sow, so shall ye reap." The operating philosophy of the American ruling class bespeaks an entirely different modus operandi:  "As I sow, so shall ye reap."

A return to the original is the only ‘change I can believe in.’ No substitutes will be accepted. 

(I wrote this letter to the Huffington Post regarding a WAPO article entitled:Unemployment plan would change rules on bank bailouts).