The myth of economic man

Discussion in 'Economy' started by william the wie, Dec 10, 2012.

  1. william the wie
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    william the wie Gold Member

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    What's the easiest way of saying this?

    Humans rationally pursue kin-selective behavior as the goal of economic behavior. Men and women have different opportunity costs for offspring and revenues from offspring. What is a rational action for one can be and often is irrational for the other. The same is true for parents and non-parents plus various other differences. The policy model of Economic Man is too simplified to be anywhere near as useful as it is assumed to be.


    Is this something you would be able to understand as a book blurb?
     
  2. akelch
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    akelch Senior Member

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    For a small group to decide what is best economically for all is like one man ordering dinner for 200 people he doesn't know. Chances are only a few will like it, most will not, and a lot of food/money will be wasted.
     
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    Last edited: Dec 10, 2012
  3. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    yes, biological and economic evolution is a random process growing out of millions and millions of individual decisions. It is about the wisdom of
    the masses, not about the false genius of a liberal Nazi .
     
  4. akelch
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    akelch Senior Member

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    ....or a central planning system. God gave us all free will for a reason. To make personal choices.
     
  5. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    yes and somehow liberals feel that if they relinquish their personal choices to a central planner who agrees with them they are in effect, the powerful Nazi central planner. They feel powerful knowing their leaders are really using their ideas.
     
    Last edited: Dec 19, 2012
  6. JimmieD
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    JimmieD Senior Member

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    I'm not sure what economist actually believes the picture you paint.
     
  7. pinqy
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    pinqy Gold Member

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    Well, first the model of Homo Economicus is known to be a mythological figure by all economists, and while useful in modeling, is known not to be strictly applicable to the real world.

    Second, that rationality differs between individuals in no way invalidates any part of the idea or models...it's part of Homo Economicus that he acts rationally according to his personal utility.

    Third, there is no third.

    Fourth, I'm not sure there's any real "policy model" of Homo Economicus.


    Yes, but it wouldn't interest me in the book.
     
  8. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    of course if there was a "policy model" you'd have told us what it was a long time ago and stopped the idle BS.
     
  9. william the wie
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    william the wie Gold Member

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    Quite true but is that agreement or disagreement?
     
  10. william the wie
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    william the wie Gold Member

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    Not idle. I am trying to determine how many people on this board are aware that neo-liberal economists use an individual selection policy model and neo-classical economists use a group selection policy model and both are biological nonsense having been disproven.
     
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