AAI President Bert Foer reviews Obliquity by John Kay. "This volume is part of a rapidly developing literature that questions the fundamental manner of thinking lying beneath the surface of the Chicago School’s model-intensive approach to antitrust. Kay’s own note in the bibliography section concludes, “Economists are beginning the task of observing actual behavior and incorporating it into models, rather than imposing supposedly normative models on their subjects. It is a big shift, and I hope this book gives a small nudge in that direction.” (p. 181.) At a philosophical level, with color and style, but too much redundancy, it reminds us that the happiest people do not pursue happiness, the most profitable companies are not the most profit-oriented, the wealthiest people are not the most materialistic, and the means help us discover the ends."
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