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Is this satire? I'm sorry, I legitimately cannot tell anymore. Anyway, if it isn't -- no, there are no universal economic laws, for the very simple reason that
by jrm4 4y ago
Is this satire? I'm sorry, I legitimately cannot tell anymore.
Anyway, if it isn't -- no, there are no universal economic laws, for the very simple reason that "humans are not always rational" and economics is fundamentally about human behavior, in groups, no less.
- _0ffh 4y agoRationality is not assumed, and therefore not required. Only purposeful action.
- jrm4 4y agoOh, please, same thing here. Let's do us all one better and nail this down. "Predictable, repeatable action"
- _0ffh 4y agoPredictable only insofar as it has to follow some simple rules. For example, if you own a good G, that you could use to satisfy either a desire D1, or a competing desire D2, you will choose to use G to satisfy the greater one of these two desires at that point in time. Repeatable is even untrue, unless I misunderstand your meaning. First of all, the ranking of your goals or desires is not assumed to be constant over time. Also, it is not assumed that your world model is constant. Quite the opposite, it is often explicitly emphasized that humans have the ability to change their mind about things, for example by learning.