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So your definition would be "Everything someone does is good for them"? That reminds me of Austrian praxeology. Behavioral patterns that lead individuals away
by fwn 8y ago
So your definition would be "Everything someone does is good for them"?
That reminds me of Austrian praxeology.
Behavioral patterns that lead individuals away from their goals do exist. Such irrationality is what most of behavioral economics policy advice is all about.
It's easiest to explain with the difference in long term goals and short term decision making. There it gets obvious very fast that peoples immediate preferences do rarely reflect their stated and consistent long term preferences.