Is There a Difference Between a Scaler and a Matrix?

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"We're trained as utilitarians, and that's what comes naturally. But of course, a, it seems quite unnatural to many people," he says. "So our presumption that you can find a a metric, and we use money, the money metric, is alien to many people." He adds: 'I'm doing some work at the moment looking at am cultural and heritage assets and how to think about their value'

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.