Video: The 2015 World Development Report (Mind, Society and Behavior) is out and it turns Economics on it’s head.
The World Bank says:
The underlying assumption for many economic policies is that human behavior arises from “rational “choice, with individuals carefully weighing their choices, considering all readily available information, and making decisions on their own. In recent decades, however, novel policies based on a more accurate understanding of how people actually think and behave have shown great promise in addressing some of the most difficult development challenges, such as increasing productivity, breaking the cycle of poverty from one generation to the next, and acting on climate change.
One paper that is critical of the World Development report says:
The World Bank has discovered that people are programmable, and some (poor people) are moreprogrammable than others.
So the 2015 World Development Report (Mind, Society and Behavior) has ditched the ‘rational actor’ model on which neo-classical economics was built, as an impediment to the purposive transformation of society.
It draws on a wide range of disciplines(behavioural economics, cognitive science, psychology, neuroscience) to ‘improve the design and implementation of development policies that target human choices and action,’ or in other words to turn our own cognitive capacity and sociality against us with the transparent objective of implanting the whole of humanity with the gene of conformity in thought and behaviour to the logic of globally competitive capitalism.