It is widely held today on grounds of prudence — if not realism — that in designing public policy and legal systems, we should assume that people are entirely self-interested and amoral. But it is anything but prudent to let Homo economicus be the behavioral assumption that underpins public policy. Samuel Bowles, a research professor and director of the Behavioral Sciences Program at the Santa Fe Institute in Santa Fe, New Mexico, explains why this is so, using evidence from behavioral experiments mechanism design and other sources, and proposes an alternative paradigm for policy making.

Sponsored by UC Berkeley's Graduate Division, Bowles gave this lecture on Feb. 25, 2019, as part of the Barbara Weinstock Lectures on the Morals of Trade.

(Santa Fe Institute photo)

Read a transcript on Berkeley News.

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