Comments on: freedom

By: Peter Boothe

Peter Boothe — Sat, 03 Oct 2009 04:42:32 +0000

It's more exact than that, but yes. The thing is that people DON'T act in their own self interest all the time – either due to psycological hangups, lack of freedom, lack of knowledge, or out and out idiocy. Assuming that people will act in their own self interest presumes perfect free will.

By: Daniel Stutzbach

Daniel Stutzbach — Tue, 30 Nov 1999 00:00:00 +0000

I thought economists assume that, everything else being equal, people tend to act in their own self-interest?

By: Peter Boothe

Peter Boothe — Tue, 30 Nov 1999 00:00:00 +0000

It’s more exact than that, but yes. The thing is that people DON’T act in their own self interest all the time – either due to psycological hangups, lack of freedom, lack of knowledge, or out and out idiocy. Assuming that people will act in their own self interest presumes perfect free will.

By: Daniel Stutzbach

Daniel Stutzbach — Tue, 30 Nov 1999 00:00:00 +0000

I don’t follow. If I’m acting rationally (in the game theory/economics sense), then I only have one choice. Isn’t that the opposite of free will?

By: Peter Boothe

Peter Boothe — Tue, 30 Nov 1999 00:00:00 +0000

See, this is why I don’t discuss philosophy much. I was thinking of the whole thing WRT being able to successfully and accurately evaluate what is the best course of action, as well as actually being able to take it, if you want.

By: Peter

Peter — Tue, 30 Nov 1999 00:00:00 +0000

I think that perhaps what I was trying to express is best shown here: http://economistsview.typepad.com/economistsview/2007/01/george_akerlof_.html