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"Rational" is a loaded term but in the context of the Austrian school of economics, to which Hazzlitt subscribed, it's not such a big problem. The Austrians ass
by nandemo 15y ago
"Rational" is a loaded term but in the context of the Austrian school of economics, to which Hazzlitt subscribed, it's not such a big problem. The Austrians assume that man is rational in the sense that he acts purposefully. Joe chooses to exchange A for B because he believes that will be better for him. That is all. There's no assumption that B is in any way objectively better than A, or that Joe will be happy after the exchange.
- billswift 15y agoThat is actually the way "rational agent" is used in much of philosophy and has been taken up by AI researchers - a rational agent is one that seeks to obtain its goals within the scope of its beliefs about the world.