Legal Commentary

A Recipe for Increasing Human Happiness

By Professor University of Miami School of Law

Reading Michael Madison’s Useful Models, he quotes from the Lone Gunman, quoting The Truth About Markets/Culture and Prosperity (UK/US title respectively) [evil tracking javascript code removed]:

I once debated the relationship between the social sciences with some anthropologists. We adjourned to the pub, and someone bought a round of drinks: the discussion naturally turned to the reasons why. For the economists, the explanation was obvious: the practice of buying rounds minimized transaction costs, reducing the number of exchanges between the patrons and the bar staff. The anthropologists saw it as an example of ritual gift exchange and described the many tribes that had developed similar customs. I proposed a test between the competing hypotheses: did you feel cheated or victorious if you bought more rounds than had been bought for you? Unfortunately, the economists and the anthropologists gave different answers to that question.

It seems to me that the lesson from this passage is that human happiness is maximized when economists and anthropologists drink together. Is the result generalizable? Should they marry?

Full post as published by Discourse.net on April 18, 2009 (boomark / email).