1 result for tag: Decisions
Economics: Spock vs. Homer Simpson
Classical economics is built on the assumption that people make rational decisions based on the desire to increase their economic well-being.
In some groups where I participate, we are reminded of an ongoing conflict between our internal Mr. Spock and our Homer Simpson.
Spock is logical, rational, and predictably boring. If we were all Mr. Spock there would be no need for traffic cameras because everybody would be on their best behavior and follow the traffic rules. There would be no need for welfare and government aid as we would each be responsible for each other and ourselves. If we all were Mr. Spock we would all drive Yugoslavian Yugos. ...