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Economics has a somewhat different definition of wisdom than human philosophers and ethicists. Economically, investing in cancer cures research is wise when se
by logfromblammo 8y ago
Economics has a somewhat different definition of wisdom than human philosophers and ethicists.
Economically, investing in cancer cures research is wise when selling a cure would be profitable. Even if you had a death oracle that could tell you exactly what a person would die of, and when, it might be wiser (economically) to invest in a cure for the disease that will kill Bill Gates in N years than the one that will kill you in N+M years.
Because the money you spend on curing Gates's disease in N years might return enough to allow you to finance a cure for your own in less than M years, whereas the original amount might cure yours in N+M+C years. It's all hypothetical. You make the best decisions you can with the information you have at the time, but luck and skill are always factors.