The orthodox view of economic policy holds that public deliberation sets the goals or ends, and then experts select the means to implement these goals. This assumes that experts are no more than trustworthy servants of the public interest. David M. Levy and Sandra J. Peart examine the historical...

Intro -- Contents -- Acknowledgments -- Preface -- List of Figures -- List of Tables -- Part I: Equality versus Hierarchy -- 1. Analytical Egalitarianism and Its Opposition -- 2. Perceiving Race and Hierarchy -- Part II: Classical Economics and the Cattle Herders -- 3. Hierarchy and...

In this paper, we compare how individuals acquire and process information relative to their scientific counterparts. Individuals rely on a heuristic, what we call 'proverbial wisdom', while experts rely on models. We then examine the properties of 'proverbial wisdom' relative to models. As a...