I think this chapter rocked. It outright pisses on the invisible hand as being the model humans should prescribe too while also supporting its sound theoretical value. Most the posts I have read so far denounce him and funnel a lot of “ no this is totally wrong” backlash, but I think they are trying to apply his insights to a Adam Smith perfect society in which people will always end up at the best possible solutions through pure unbridled markets. Adam Smith’s ideas flat don’t work in the real world. I feel Frank touches on a lot of good points that individual utility functions are not always best for the community as a whole and I think many who read this missed that. They only seemed to read “ The invisible hand is wrong” and “ Individual wants and needs are below the needs of the group” which I think would piss off any pure economist. I mean , what economist would dare say that pure competition and the invisible hand are incorrect statements? It shatter the belief of economic heaven where all suppliers meet consumers demand at the most efficient level possible, in an ethical and timely manner, and that barriers to entry and exit are nonexistent. I don’t believe in economic heaven, call me an agnostic. I don’t think it will ever happen for the same reason I feel no market will ever be at true equilibrium. Why? Because humans are imperfect and so are the systems we create. Frank does a wonderful job showing that individuals want things that ultimately have no benefit, due to willful insanity. He doesn’t say peoples utility functions are nessicarily wrong, but he does say that they can logically unsound and have a habit of not always being for the greater good. Personally I am a greater good guy, I think if more individuals got together and promoted the general welfare ( Constitutional Reference) mabey it would create a society in which economic priciples are harnessed to generate superior utility on an aggregate level. That is why I believe our nation is the best in the world, and quite frankly it is. With the worlds largest economy, military, and sphere of political influence it is no wonder why even the countries that despise us still envy our success and regaurd our nation as the land of opportunity. I am amused , for the reaction to this chapter is as expected. I feel like Democritus when he affirmed Pythagoras’s theory that the earth was round, not flat, and that to be flat was simply illogical and dubiously blind.