'Networked Minds' Need New Economics

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How will this change our economy? Today, many customers doubt that they get the best service by people who are driven by their own profits and bonuses. "Our theory predicts that the level of other-regarding preferences is distributed broadly, from selfish to altruistic. Academic education in economics has largely promoted the selfish type. Perhaps, our economic thinking needs to fundamentally change, and our economy should be run by different kinds of people," suggests Grund. "The true capitalist has other-regarding preferences," adds Helbing, "as the "homo socialis" earns much more payoff."

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