Isn't rationality far more limited than you suggest? Isn't it rational to cut down forests or to destroy the ocean if the present value of the expected benefits exceeds the present value of the expected costs?
On Tue, Aug 07, 2007 at 08:35:58AM -0700, Jim Devine wrote: > On 8/7/07, Gassler Robert <[EMAIL PROTECTED]> wrote: > > I like to point out the difference between rationality and selfishness, > > which is more often than not conflated in most economic discussions. It is > > possible to be rational and nonselfish. > > to economists, as far as I can tell, "rationality" simply means > "consistency." But I used the word "individualistic." That's another > word that's ambiguous without definition, but I meant "greedy." > -- > Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own > way and let people talk.) -- Karl, paraphrasing Dante. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com
