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... would be far more compelling:
This helps explain why neoclassical economics, which is simply the application of assuming rational self interest as the principal element for individual, and by extension, collective action, has such rhetorical power in policy circles -- it's just really compelling based on factual observation, cynical or not.

However, there is a shell game going on here ... it is not in fact defining "rational" as would be commonly understood in ordinary parlance, but rather in the context of a model of human decision making which is known to be a false model.

The mainstream has a number of those "happy misunderstandings" that allow the heirs of the collapsed neoclassical program to say things that are technically in line with their mathematico-logical approach to emulating economic behavior, and be understood as saying something more reasonable.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Sun Mar 1st, 2009 at 10:45:50 AM EST
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