2 ms·
Sociopaths are not the only rational beings in economic theory. Leisure and social goods can be factors in economic calculations, and most (good) economists do
by nickff 7y ago
Sociopaths are not the only rational beings in economic theory. Leisure and social goods can be factors in economic calculations, and most (good) economists do take them into account.
Adam Smith wrote: "[m]an naturally desires, not only to be loved, but to be lovely; or to be that thing which is the natural and proper object of love".
Those who say that economics is based on the pocketbook are either posing a straw-man, or are very bad economists.