The Economist with a Heart: Critique of “Your Inner Economist” by Tyler Cowen

Abstract

This article aims to further understand “the economist inside us” as put forth in the book “Discover Your Inner Economist” by Tyler Cowen. The content of this book explains socio-economic behaviors of real people through classical and neoclassical economic theories whereas standard economic textbooks tend to demonstrate the economic equilibrium based on mathematic approaches regardless of the practicality. However, “the economist inside us” whom Cowen gave a heart, is still an economist who seeks answers by econometrics and solves problems by market mechanisms. The heart of such economist lies in conservatism, which aims to preserve the old world and its social status because it is viewed as being more decent.