350. Rationality in economics

Pretty revealing, and of course not a interesting as understanding the ehy of what people actually do. Which won’t fit math because math is intrinsically cold.

It isn’t that freshwater types believe that actual people are perfectly rational—they just believe that making that assumption enables a more rigorous economics than is possible without it. After all, while there is only one way to be perfectly rational, there are an infinite number of ways to be irrational, and how do you choose? It all begins to look awfully arbitrary.

via How Paul Krugman found politics : The New Yorker.

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