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When you have a systemic shock with unknown impact, rational can still be ultimately wrong. If there’s a 50% chance of total economic meltdown, and you can ave
by yojo 4y ago
When you have a systemic shock with unknown impact, rational can still be ultimately wrong.
If there’s a 50% chance of total economic meltdown, and you can avert it with a few years of high inflation, that might still be the correct decision, even if the doomsday scenario doesn’t come true.
- namarie 4y agoNot to mention that we'll never know for sure whether the doomsday scenario would have come true or not. So it might still have been a good response.