ekon talk: What economics is and what it should be. Author Diana cole on her latest book, cogs and monsters. We'll discuss the characteristics of the economy in a digital world. Will you join us for this week's show?
Mainstream economics, says author Diane Coyle, keeps treating people like cogs: self-interested, rational agents. But in the digital economy, we're less sophisticated consumer and more monster under the influece of social media. Listen as the economist and former UK Treasury advisor tells EconTalk host Russ Roberts how, for economics to remain relevant, it needs both more diverse methodologies and more engagement with the broader issues of the day.