Episode 129 - Economics of Higher Purpose with Anjan Thakor
An intriguing interview with a business school professor from Paul's alma mater, Anjan Thakor of the Washington University in St. Louis Olin Business School. The point of departure for this episode is Prof. Thakor's book of the same title written with Dr. Bob Quinn, and the book was launched as an analysis of why Dr. Quinn left a prestigious faculty position at the University of Michigan to go start a church in Australia.
The book and our interview discuss what seems as if it should be common sense: people perform better when they believe what they're doing has a higher purpose than extracting paychecks and profit. Yet this common sense observation is now counter to decades of economic orthodoxy, both in the "practical" world and in academia, which focus on evaluating ways for employers to control and coerce employees using the tools of the market system. And it's not entirely surprising, since in many ways human nature is always poised to devolve into this style of interaction. Listen in and, if you're anywhere near as intrigued by this work as I was, read their book for more.
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