The Econ 101 model of humans as rational utility maximizers (homoeconomicus) is false; decades of research from neuroscience, behavioral economics, and evolutionary psychology show humans are emotional, social primates who chase status, copy others, are loss-averse, and care intensely what others think — so systems designed for rational self-interested agents produce fragile markets and shallow relationships.

causalpending

Speaker

Nate Hagens

Evidence Quote

This model taught in Econ 101 doesn't describe people. It describes robots.

Source

The 10 Core Myths Still Taught in Business Schools | Frankly 99Nate Hagens
Created: 6/18/2026, 2:17:46 PM

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