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Careful, Friedman and Hayek basically took Smith's theories warped it beyond recognition, and it is these two men that most of western economics has been tirele
by ionised 8y ago
Careful, Friedman and Hayek basically took Smith's theories warped it beyond recognition, and it is these two men that most of western economics has been tirelessly focused on this last few decades.
Believing that humans are merely information processors acting at all times only in their 'rational self-interest' is an incredibly narrow and simplistic view of humanity.
- pfortuny 8y agoWell, exactly, that is in another way, what I am stating: rational self interest is inherently unmeasurable because "rationality" is not something that can be objectively counted. So at any time one should assume that people act in their "self-interest": what at the time they deem "better" (in whatever their will decides is "better" at that point). I am not arguing that people never change or never act wrongly or never do things harmful to themselves. I am arguing that if one wants to "objectivize" their actions then one should assume that their decisions show their interests and their values at each time.