Economist Ernst Fehr, who humanized economics, fears for democracy's resilience

Ernst Fehr, an Austrian-Swiss economist and professor at the University of Zurich, has fundamentally reshaped economic thinking by challenging the long-held assumption of the purely rational, self-interested individual. His experimental research has shown that human behavior is often driven by other motives, such as aversions to inequality, and has been instrumental in the rise of behavioral economics.

Fehr, who is the most cited economist in the German-speaking world and an honorary life member of the American Economic Association, has consistently pursued groundbreaking research. He has led the transformation of the University of Zurich's economics department into a globally leading institution. His efforts, supported by the Excellence Foundation Zurich, which he founded, have attracted significant funding and top talent to the university, strengthening its international competitiveness.

As Fehr approaches his 70th birthday, the University of Zurich is hosting a conference with five Nobel laureates and leading scholars. While he remains focused on future research, Fehr also voices concerns about the resilience of democracy. His work, which has earned him numerous awards and frequent mention as a Nobel Prize contender, continues to explore fundamental questions about human motivation and economic behavior.

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Most people have an aversion to inequality.