If you give everybody some good, allow them to whatever is return to the common pool is doubled. Everybody comes out twice as good. But each individual realizes that if everybody else returns the money to thecommon pool, it'll be doubled and redistributed equally. In ot of these games, punishment is just like a mant. You know, i put in a dollar, they'll lose three dollars. Reciprocity being you share and co operate and punish others when bad behaviour ensues. Strong reciprocity is when you punish people who don't punish others. It's this web of a social contract based on on norms. And that stronges protecity auseus.
On this episode we meet with ecological economist and Professor in Community Development & Applied Economics and Public Administration, Josh Farley.
Farley explores the importance of human cooperation in a modern superstructure that incentivizes competition. What role will cooperation play in helping us solve our largest existential problems?
Farley explains the critical social dilemma humans face: How can we grapple with the paradox that individuals are better served to act selfishly, but cooperation among individuals makes everyone better off?
Additionally, Professor Farley helps us distinguish the difference between how a system works, and how we can understand and participate in changing a system.
For Show Notes and Transcript visit: https://www.thegreatsimplification.com/episode/07-josh-farley