Butterfly Economics: A New General Theory of Social and Economic Behavior.(Review)

The American Journal of Economics and Sociology | July 1, 2001| | Copyright

Ormerod, Paul. 1999. Butterfly Economics: A New General Theory of Social and Economic Behavior. New York: Random House. ISBN 0-375-40765-0

Few economic writings have been more popular in their time than Fable of the Bees by Bernard Mandeville. The book, which caused an uproar because of what was perceived as unorthodox moral stance (the subtitle reads: "Public Vices, Private Benefits"), used an image of a beehive to illustrate the central message: private austerity does not lead to a prosperous economy. Paul Ormerod's recent book, Butterfly Economics, promises to be ...

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