Wednesday, January 10, 2007

Reality & Economics

Econ has never been my strong suit, but I did find that a lot of this article made sense to me.

One of my big problems with hard core conservatives and libertarians is their almost religious faith in the idea that free markets will ALWAYS provide the best outcome. This idea typically relies on the assumption that all people are rational actors and, as such, conduct themselves in a way that maximies their own utility. However, simple observation shows us that a lot of people don't always act in accordance to their own interests. The linked article above delves into some of that and, so, it strikes me as a more pratical way to deal with several pressing economic issues.

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