The Mind of the Market: Compassionate Apes, Competitive Humans, and Other Tales from Evolutionary Economics

The Mind of the Market: Compassionate Apes, Competitive Humans, and Other Tales from Evolutionary Economics
by Michael Shermer

The Mind of the Market: Compassionate Apes, Competitive Humans, and Other Tales from Evolutionary Economics
List Price: $26.00
Our Price: $14.53
You Save: $11.47 (44%)
Availability: Usually ships in 1-2 business days
Buy Used: from $14.35 (click here)
Category: Book
See more book details and other editions


(Click here)
Buy this book at online book store in your country
Canada | UK | Germany | France

Book Summary Information

Author: Michael Shermer
Edition: Hardcover
Published: 2007-12-26
ISBN: 0805078320
Number of pages: 336
Publisher: Times Books

Book Reviews of The Mind of the Market: Compassionate Apes, Competitive Humans, and Other Tales from Evolutionary Economics

Book Review: Monkey See, Human Do?
Summary: 4 Stars

Shermer attempts to synthesize a wide range of findings about how humans often behave in a manner that refutes the idea of homo economicus, that is, a human being who makes rational economic decisions. Clearly, we often don't do that. Shermer gives many examples of this, most of which have been highlighted in a number of other works. Examples include: how we value something more once we posses it; how varied phrasing of identical choices leads to different behaviors; how we are generally unable to take future discounting into account.

Shermer weaves these findings from psychology, as well as numerous findings from primate behavior, into a story that claims that most of our aforementioned irrationality is the result of a mind that has not evolved quickly enough to meet current economic conditions. What worked well among hunter-gatherers millenia ago is just not suited to today's economic environment. While Shermer's theory is plausible, there are too many gaps to make it fully convincing. For example, in my opinion, the theory must apply universally to all aspects of human existence. By that I mean that if the "economic" brain did not evolve quickly enough, so then must other parts of brain have remained the same. If, for example, reading of print did not occur in history until relatively recently, why should our brains have evolved quickly enough to carry out that function, but not other functions? Shermer himself posits that we manage on many occasions to override our hunter-gatherer impulses; if so, what is the nature of this override feature and where did it come from?

Nevertheless, Shermer takes on a challenging topic with gusto, and provides enough interesting information on human behavior to make the book a worthwhile read.

Summary of The Mind of the Market: Compassionate Apes, Competitive Humans, and Other Tales from Evolutionary Economics

Bestselling author Michael Shermer explains how evolution shaped the modern economy—and why people are so irrational about money
How did we make the leap from ancient hunter-gatherers to modern consumers and traders? Why do people get so emotional and irrational about bottom-line financial and business decisions? Is the capitalist marketplace a sort of Darwinian organism, evolved through natural selection as the fittest way to satisfy our needs? In this eye-opening exploration, author and psychologist Michael Shermer uncovers the evolutionary roots of our economic behavior.

Drawing on the new field of neuroeconomics, Shermer investigates what brain scans reveal about bargaining, snap purchases, and establishing trust in business. He scrutinizes experiments in behavioral economics to understand why people hang on to losing stocks, why negotiations disintegrate into tit-for-tat disputes, and why money does not make us happy. He brings together astonishing findings from psychology, biology, and other sciences to describe how our tribal ancestry makes us suckers for brands, why researchers believe cooperation unleashes biochemicals similar to those released during sex, why free trade promises to build alliances between nations, and how even capuchin monkeys get indignant if they don’t get a fair reward for their work.

General Books

Book Subjects
Most talked about in Best Books of 2008
Your Inner Fish: A Journey into the 3.5-Billion-Year History of the Human Body ImageYour Inner Fish: A Journey into the 3.5-Billion-Year History of the Human Body
by Neil Shubin
Pantheon; Published: 2008-01-15; Hardcover; Book
Best price: $13.89
Price in other shops: $24.00
The Devil in Dover: An Insider's Story of Dogma v. Darwin in Small-town America ImageThe Devil in Dover: An Insider's Story of Dogma v. Darwin in Small-town America
by Lauri Lebo
New Press; Published: 2008-05-13; Hardcover; Book
Best price: $14.00
Price in other shops: $24.95
The Mind of the Market: Compassionate Apes, Competitive Humans, and Other Tales from Evolutionary Economics ImageThe Mind of the Market: Compassionate Apes, Competitive Humans, and Other Tales from Evolutionary Economics
by Michael Shermer
Times Books; Published: 2007-12-26; Hardcover; Book
Best price: $14.53
Price in other shops: $26.00
Grand Theft Jesus: The Hijacking of Religion in America ImageGrand Theft Jesus: The Hijacking of Religion in America
by Robert S. Mcelvaine
Crown; Published: 2008-03-25; Hardcover; Book
Best price: $11.00
Price in other shops: $23.95
Microcosm: E. coli and the New Science of Life ImageMicrocosm: E. coli and the New Science of Life
by Carl Zimmer
Pantheon; Published: 2008-05-06; Hardcover; Book
Best price: $15.07
Price in other shops: $25.95
Only a Theory: Evolution and the Battle for America's Soul ImageOnly a Theory: Evolution and the Battle for America's Soul
by Kenneth R. Miller
Viking Adult; Published: 2008-06-12; Hardcover; Book
Best price: $15.04
Price in other shops: $25.95
Similar Books and other products
Why Darwin Matters: The Case Against Intelligent Design ImageWhy Darwin Matters: The Case Against Intelligent Design
by Michael Shermer
Times Books; Published: 2006-08-08; Hardcover; Book
Best price: $25.47
Why People Believe Weird Things: Pseudoscience, Superstition, and Other Confusions of Our Time ImageWhy People Believe Weird Things: Pseudoscience, Superstition, and Other Confusions of Our Time
by Michael Shermer
Holt Paperbacks; Published: 2002-09-01; Paperback; Book
Best price: $4.98
Price in other shops: $17.00
Sway: The Irresistible Pull of Irrational Behavior ImageSway: The Irresistible Pull of Irrational Behavior
by Ori Brafman, Rom Brafman
Doubleday Business; Published: 2008-06-03; Hardcover; Book
Best price: $10.50
Price in other shops: $21.95
Your Inner Fish: A Journey into the 3.5-Billion-Year History of the Human Body ImageYour Inner Fish: A Journey into the 3.5-Billion-Year History of the Human Body
by Neil Shubin
Pantheon; Published: 2008-01-15; Hardcover; Book
Best price: $13.89
Price in other shops: $24.00
Economic Facts and Fallacies ImageEconomic Facts and Fallacies
by Thomas Sowell
Basic Books; Published: 2007-12-31; Hardcover; Book
Best price: $14.00
Price in other shops: $26.00
The Stuff of Thought: Language as a Window into Human Nature ImageThe Stuff of Thought: Language as a Window into Human Nature
by Steven Pinker
Viking Adult; Published: 2007-09-11; Hardcover; Book
Best price: $15.49
Price in other shops: $29.95
Irreligion: A Mathematician Explains Why the Arguments for God Just Don't Add Up ImageIrreligion: A Mathematician Explains Why the Arguments for God Just Don't Add Up
by John Allen Paulos
Hill and Wang; Published: 2007-12-26; Hardcover; Book
Best price: $11.89
Price in other shops: $20.00
Nudge: Improving Decisions About Health, Wealth, and Happiness ImageNudge: Improving Decisions About Health, Wealth, and Happiness
by Richard H. Thaler, Cass R. Sunstein
Yale University Press; Published: 2008-04-08; Hardcover; Book
Best price: $16.17
Price in other shops: $26.00
The Logic of Life: The Rational Economics of an Irrational World ImageThe Logic of Life: The Rational Economics of an Irrational World
by Tim Harford
Random House; Published: 2008-01-15; Hardcover; Book
Best price: $7.00
Price in other shops: $25.00
Predictably Irrational: The Hidden Forces That Shape Our Decisions ImagePredictably Irrational: The Hidden Forces That Shape Our Decisions
by Dan Ariely
HarperCollins; Published: 2008-02-19; Hardcover; Book
Best price: $15.04
Price in other shops: $25.95
Book store. Illustrated catalog of books on different categories