3 ms·
There should be a name for the fallacy of expecting people to "vote" with their dollars on every single issue all of the time. It's like the opposite mistake t
by dwiel 5y ago
There should be a name for the fallacy of expecting people to "vote" with their dollars on every single issue all of the time.
It's like the opposite mistake that communists make. They expect a single centralized decision maker to balance all considerations to set a price, which is inevitably ineffective.
This vote with your dollar argument expects every individual to balance all considerations to set their own personal price. There is an assumption of information symmetry and unlimited ability to analyze on the part of the individuals behind the vote with your feet argument that is just not remotely true.
- Fricken 5y agoI run into this conflict. Many like to regard themselves as sovereign agents who can make informed decisions for themselves. This is the ideal, and I can argue on behalf of it. Of course, reality doesn't check out that way and the record shows it. This doesn't stop people from getting upset should you imply that they are not equipped to sensibly make their own decisions. We are strongly encouraged to make terrible decisions all the time, and there's a lot of money behind it, from many actors.