Part 14 (2/2)

Chapter 9.

1 Feynman, Richard (1964), The Feynman Lectures on Physics; Volume 1 (Reading, MA: Addison Wesley).

2 Jevons, William Stanley (1874), The Principles of Science: A Treatise on Logic and Scientific Method, Vol. 2 (London: Macmillan), p. 428.

3 Letter to J.L. Shadwell, 17 October 1872. Jevons, William Stanley (1886), Letters and Journal of W. Stanley Jevons (London: Macmillan).

4 Jevons, William Stanley (1879), Theory of Political Economy (2nd edn; London: Macmillan), pp. 11-12.

5 Quoted in Mirowski, Philip (1989), More Heat than Light: Economics as Social Physics, Physics as Nature's Economics (Cambridge University Press), p. 219.

6 Jevons, William Stanley (1879), Theory of Political Economy (2nd edn; London: Macmillan), p. 8.

7 Walras, Pareto and Edgeworth, Francis quoted in Mirowski, Philip (1989), More Heat than Light: Economics as Social Physics, Physics as Nature's Economics (Cambridge University Press).

8 Alfred Marshall, for example, wrote that: ”Jevons was, as he frankly confessed, not a skilled mathematician. Truly mathematical as was the tone of his best work, he was not at his ease when using mathematical formulae.” Marshall, Alfred and John King Whitaker (ed.), (2005), The Correspondence of Alfred Marshall, Economist: Climbing, 1868-1890 (Cambridge University Press), p. 164.

9 Beinhocker, Eric D. (2006), Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics (Boston, MA: Harvard Business School Press), p. 49.

10 Wiener, N. (1964), G.o.d and Golem, Inc. (Cambridge, MA: MIT Press), p. 89.

11 Feynman, Richard P. (2000), The Pleasure of Finding Things Out: The Best Short Works of Richard P. Feynman (New York: Basic Books), pp. 22-3.

12 As Julie Nelson notes, it is easy to intimidate outsiders with ”references to subgame-perfect equilibria or heteroskedasticity.” Nelson, Julie A. (2003), ”Clocks, Creation, and Clarity: Insights on Ethics and Economics from a Feminist Perspective,” GDAE Working Papers 03-11, Tufts University (Medford, MA).

13 Frey, Bruno S. and Stutzer, Alois (2002), Happiness and Economics: How the economy and inst.i.tutions affect human well-being (Princeton University Press).

14 Jevons, William Stanley (1886), Letters and Journal of W. Stanley Jevons (London: Macmillan).

15 Lykken, D. (1999), Happiness: What studies on twins show us about nature, nurture and the happiness set-point (New York: Golden Books).

16 Headey, Bruce (2006), ”Life Goals Matter to Happiness: A Revision of Set-Point Theory,” Discussion Papers of DIW Berlin, 639.

17 When a US Gallup poll asked people: ”What is the smallest amount of money a family of four needs to get along in this community?” the answer simply tracked the average income. Rainwater, L. (1990), ”Poverty and equivalence as social constructions,” Luxembourg Income Study Working Paper, 91 (Syracuse, NY: Center for Policy Research, The Maxwell School).

18 Anonymous (2008), ”Joy to the world is contagious: study,” CBC News, 4 December 2008.

19 Kahneman, Daniel, et al. (2006), ”Would You Be Happier If You Were Richer? A Focusing Illusion,” Science, 312, 5782. Money can also be hard on relations.h.i.+ps. Here, for example, is the story of the wife of a UK banker: ”I know some people look at our lifestyle and cringe and it does sometimes embarra.s.s me. We have the obligatory double-fronted house in a communal garden in Notting Hill, with a gardener, a housekeeper/cook, a cleaner, a chauffeur, a nanny and a tutor. But it has come at a huge price. Most of the time I feel like a single mother - my husband comes home now and again, repacks his suitcase and is off to another European city. We do use Netjet for our Ibiza summer holidays but that is because he gets only one holiday a year, and even then he spends most of the time pacing up and down the beach on his BlackBerry in his Vilebrequins. He can never make our son's parents' evenings and missed our daughter playing the lead in the school play. I don't think he has ever swum with the children in our pool ... If it wasn't for the bonus, it wouldn't be worth it.” Thomson, Alice (2009), ”City workers: 'We're worth our bonuses' ,” Times, 22 October 2009.

20 Frey, Bruno S. and Stutzer, Alois (2002), Happiness and Economics: How the economy and inst.i.tutions affect human well-being (Princeton University Press), p. 106.

21 Ariely, Dan (2009), Predictably Irrational: The Hidden Forces That Shape Our Decisions (London: HarperCollins), pp. 68, 76.

22 As Iain McGilchrist notes: ”Money changes our relations.h.i.+ps with one another in predictable ways. These also clearly reflect a transition from the values of the right hemisphere to those of the left.” McGilchrist, Iain (2009), The Master and his Emissary: The Divided Brain and the Making of the Western World (London: Yale University Press), p. 279. See also: Orrell, David (2008), The Other Side of the Coin: The Emerging Vision of Economics and Our Place in the World (Toronto: Key Porter), p. 131.

23 Gneezy, Uri and Rustichini, Aldo (2000), ”A Fine is a Price,” Journal of Legal Studies, 29.

24 Vohs, Kathleen D., Mead, Nicole, and Goode, Miranda (2006), ”The Psychological Consequences of Money,” Science, 314, 1154-6.

25 The John Lennon quote at the start of the chapter is from: Hindle, Maurice (2009), ”Christmas with John and Yoko,” New Statesman, 21 December 2009.

26 Jeffries, Stuart (2008), ”Will this man make you happy?” Guardian, 24 June 2008.

27 James, Oliver (2007), ”Blind feminism has hurt our children,” Times, 15 February 2007. See also: James, Oliver (2007), Affluenza: How to Be Successful and Stay Sane (London: Vermilion).

28 APA Press Release (2007), ”Stress a Major Health Problem in the US, Warns APA”: munity (New York: Simon & Schuster), p. 359.

35 Elmhirst, Sophie (2009), ”Hard times,” New Statesman, 24 August 2009.

36 See, for example: /international.htm 37 Many women now earn more than their husbands - in Canada, the number is around 30 per cent - so it often makes sense for fathers to look after the kids. Anonymous (2006), ”More Canadian women bringing home the back bacon: StatsCan,” CBC News, , 23 August 2006.

38 Of course, some still try. A good example is: Bueno de Mesquita, Bruce (2009), The Predictioneer's Game: Using the Logic of Brazen Self-Interest to See and Shape the Future (New York: Random House), which manages to reduce Mother Teresa's motivations to a cold calculation of utility.

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