Neoclassical economics is not as naive about altruism as the straw-man critique suggests: economists, including Adam Smith, have long understood Homo economicus is not purely selfish and have studied charity for centuries—the real failing is that the formal models of how much altruistic activity would occur were 'quite sterile,' and embodying non-financial motivation properly in models may be beyond the scope of social science.

normativepending

Speaker

Russ Roberts

Evidence Quote

the models of how people of how much of that would take place were quite sterile

Source

Clay Shirky on Coase, Collaboration and Here Comes Everybody 10/20/2008EconTalk
Created: 6/15/2026, 9:28:59 AM

My Notes

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