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Those are ways in which people acting in their own rational self interest create a situation in which they are all worse off as a result. This is called a marke
by missedthecue 6y ago
Those are ways in which people acting in their own rational self interest create a situation in which they are all worse off as a result. This is called a market failure, and there are plenty of examples where this happens (for instance, why voting seldom produces the best possible candidate, or why armies run away).
Remember, someone acting in their own rational self interest does not mean they will never experience deleterious consequences. It simply means people will take actions they think will result in the best const/benefit for them.
- mlthoughts2018 6y agoI’m sorry but you are not engaging. You’re basically creating a No True Scotsman fallacy out of what “is” acting in self-interest, almost verging on a tautology. The research is clear that even when confronted with proof their actions will not result in the outcome that people self-identify as the outcome they desire, they nonetheless knowingly engage in behavior that makes them worse off (under their own preferences and utility) than other options available to them.