Author here: I think this post could use a bunch of improvements. It spends a bunch of time on tangential things (e.g. the discussion of Inadequacy and why this doesn’t come through in textbooks, spending a while initially setting up a view to then tear down).
But really what would be nice is to have it do a much better job at delivering the core insight. This is currently just done in two bullets + one exercise for the reader.
Even more important would be to include JenniferRM’s comment which adds a core mechanism (something like “cultural learning”).
Overall, though, I still stand by the importance of the underlying concept; and think it’s a crucial part of the toolkit required to apply economic thinking in practice.
Author here: I think this post could use a bunch of improvements. It spends a bunch of time on tangential things (e.g. the discussion of Inadequacy and why this doesn’t come through in textbooks, spending a while initially setting up a view to then tear down).
But really what would be nice is to have it do a much better job at delivering the core insight. This is currently just done in two bullets + one exercise for the reader.
Even more important would be to include JenniferRM’s comment which adds a core mechanism (something like “cultural learning”).
Overall, though, I still stand by the importance of the underlying concept; and think it’s a crucial part of the toolkit required to apply economic thinking in practice.