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Capitalists more kindly, professors suggest

August 19, 2011

In the Reuters blog The Great Debate Chapman University professors Vernon Smith, Ronald Rotunda and Bart Wilson describe and comment on an economics experiment that suggests capitalism fosters a happier lifestyle.

In a laboratory trading game those groups that were more welcoming of cooperative trading had better profits and friendlier conversational banter in an online chat room than did other groups that shied away from bartering and had a tendency to disregard property rights and fall into thievery.

“The capitalists indicate greater happiness. We cannot measure this happiness the way we can quantify gains from trade, but the chat room discussions are revealing,” the professors write.

The entire article, titled Are capitalists happier?, may be read at The Great Debate.

2 Comments leave one →
  1. Margaret Ferron, (Margot) permalink
    August 28, 2011 1:01 pm

    I wish I would have known about the tribute to Will Norton. I spent
    July & August raising more than $8,800 for Joplin, MO. I would have loved to have attended the service. I am a Chapman alum- 1994.

  2. September 1, 2011 8:49 am

    What an impressive summer you had, Margaret. The Alumni Association likes to hear about alumni in action, too. Consider sharing it with them by visiting their website: http://www.alumni.chapman.edu/s/1057/start.aspx
    Thanks for reading and staying in touch.

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