As stated in one of Zeno’s nine paradoxes, an arrow in flight is “somewhere” and “somewhere in transit”, implying the flow of time as a continuum. Thereafter, approximately a thousand years after Zeno, the theologian Augustine of Hippo attempted to categorize time by writing, “perhaps it would be exact to say: there are three times -… Continue reading The Present of Things Past
Tag: Incentives
Carrots & Sticks
In my last essay, I not only described the historical underpinnings of the model of homo economicus but also described it as a foundational element of modern economic theory. Homo economicus is the smallest unit of analysis in economic theory and is characterized as a solitary agent, calculating in his utility, solely driven by competition,… Continue reading Carrots & Sticks
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