Friday, February 01, 2008

Banker's Paradox? Reciprocal Altruism?

--Thus, Tooby and Cosmides conclude, the Banker’s Paradox* leads us to an evolved psychology where “if you are unusually or uniquely valuable to someone else — for whatever reason — then that person has an uncommonly strong interest in your survival during times of difficulty. The interest they have in your survival makes them, therefore, highly valuable to you. The fact that they have a stake in you means…that you have a stake in them. Moreover, to the extent they recognize this, the initial stake they have in you may be augmented.”8 Through such augmentation can the poor become rich through the evolved foundation of friendship**.--

*The Banker's Paradox is that people who need the credit the most are the ones with the highest risk to lenders so they can't get the credit.

**Too bad there is no real concrete means to all of this - too subjective and arguments can and do occur.

This is all from Michael Shermer's book called "The Mind of the Market" and you can view the prologue where I got this from here.


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