Economists can tell us whether the actions we take and the policies we pursue are likely to maximize our economic benefits, but their analysis can miss key elements of human nature.
That was one of the points economics professor Petur Jonsson of Fayetteville State University made during his presentation today to the John Locke Foundation’s Shaftesbury Society, titled “On Virtue, the Pursuit of Happiness, and Economic Behavior.”
Jonsson contends an element of virtue can lead us toward decisions that appear irrational to the economist. This notion has consequences for public policy and business practices, as Jonsson explains in the video clip below.
3 p.m. update: Click play below to watch the full 46:10 presentation.
You’ll find other John Locke Foundation video presentations here.
