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Yes even with these additions, I don't think the central problem is addressed, which is that economics still treats people as 'rational actors', albeit flawed,
by jacknews 5y ago
Yes even with these additions, I don't think the central problem is addressed, which is that economics still treats people as 'rational actors', albeit flawed, interested in gaining wealth.
But, and I see it all the time, people will in many cases, not only not work together for mutual gain, but will actually choose actions that harm their own material wellbeing, if they harm their close rivals more.
People care about their relative status, not absolute wealth.